We're no in our 43rd straight month of 8.0+ unemployment...and the current rate is 8.1% only because there are now far fewer people in the labour force than 1948.
Here's a graphic that shows what Mr. Obama claimed would happen is his $860,000,000,000.00 "stimulus [that wasn't] package" was passed by a Democratic Party controlled Congress:
He has utterly failed to do what he promised and he wants another 4 years? Here's some information from the August 2012 BLS unemployment report:
– Nonfarm payrolls increased by only 96,000 in August, the Labor Department said, versus expectations of 125,000 jobs or more. The manufacturing sector, much touted by the president in his convention speech, lost 15,000 jobs.This man demands that we give him another 4 years to finish the transformation of America...into what? A perpetually high employment state, just like Europe? The president works for us. He has failed in his task...it's time for him to go.
– Since the start of the year, job growth has averaged 139,000 per month vs. an average monthly gain of 153,000 in 2011.
– As the chart at the top shows, the unemployment rate remains far above the rate predicted by Team Obama if Congress passed the stimulus. (This is the Romer-Bernstein chart.)
– While the unemployment rate dropped to 8.1% from 8.3% in July, it was due to a big drop in the labor force participation rate (the share of Americans with a job or looking for one). If fewer Americans hadn’t given up looking for work, the unemployment rate would have risen.
– Reuters notes that the participation rate is now at its lowest level since September 1981.
– If the labor force participation rate was the same as when Obama took office in January 2009, the unemployment rate would be 11.2%.
– If the participation rate had just stayed the same as last month, the unemployment rate would be 8.4%.