The US economy has created 103000 jobs in September as opposed to none in August. While that should be good news for President Obama, the truth is that it hasn’t affected the unemployment rate at all, which still stands at 9.1 %.
Despite these encouraging results, John Boehner, expressed his disappointment over recent figures by saying, “Our unemployment rate has been higher than 8% for more than two and a half years, far above what the Obama administration promised with the ‘stimulus’… These sad numbers show that more Washington spending, threats of higher taxes on small businesses, and excessive government regulations don’t create a healthy environment for job growth.”
However, statistics, according to experts, have shown that there has been an addition of almost 2.6 million jobs for the past 19 months with little or no effect on the unemployment rate. Thus, most f them agree that it’s time for Congress to get their act together to pass the American Jobs Act so that middle-class Americans will have more money in their pockets.
Among the industries that added jobs in September are construction, retail, temporary-help services and health care yet despite a positive report in September, the economy continues to grow at a snail’s pace – still falling short of the 125,000 jobs required every month to keep up with population growth.
With almost a year to go for the Presidential Elections, and the unemployment rate still at 9.1 percent for the past two years, the President will have his work cut out for him, especially since the discussion surrounding unemployment will determine whether he gets a second term or not.