Obama has Rescued the Economy from Catastrophe!
Wow! Unemployment fell by .1% and Obama is taking credit for getting the Economy out of the Economic Recession. Hmmm, just think if Bush tried this. The spin from the White House and the main stream media is unbelievable! Obama said today that he has saved the US economy from catastrophe! This is just laughable. Today at the White House Obama said ”While we have rescued our economy from catastrophe...”
The unemployment rate fell to 9.4% from 9.5% in June, the first decline in that closely watched reading since April of 2008. Economists had expected unemployment to rise to 9.6%.
The unemployment rate fell even as employers continued to cut jobs because the Labor Department estimated there were 237,000 fewer people it counted as unemployed.
That decline in the labor force can be due to discouraged job seekers who have stopped looking for work, people who now consider themselves retired or those have gone back to school rather than applying for jobs.
“You can’t lose jobs and have the unemployment rate decline unless folks are opting out,” said Tig Gilliam, CEO of Adecco Group North America, a unit of the world’s largest employment staffing firm. “That means unemployment is going to go back up again.”
