When will America grow weary of the Obama administration having to constantly find a silver lining in the monthly jobs reports? Wouldn’t you rather have flat-out positive employment news, as opposed to having to find a glimmer of hope in a sea of economic despair?
The U.S. economy closed out an otherwise weak second quarter by creating more jobs than expected, with 163,000 new positions added, but the unemployment rate rose to 8.3 percent.
Markets reacted positively to the announcement, with stock futures indicating gains at the Wall Street open. Economists had been expecting 100,000 new jobs.
As the country struggles to gain growth traction, the unemployment rate held above 8 percent for the 41st consecutive month, according to the latest report from the Bureau of Labor Statistics.
The silver lining of course is the statement that more jobs were created “than expected”. Roughly every job report since Obama took office has produced numbers that were unexpected. But the numbers are almost always consistently revised downwards – quietly – a month later. Case in point, this jobs report also stated, “June’s anemic 80,000 gain was revised down to just 64,000.”
Romney responded to the record unemployment numbers under the Obama administration:
“Today’s increase in the unemployment rate is a hammer blow to struggling middle-class families. Yesterday I launched my Plan for a Stronger Middle Class that will bring more jobs and more take home pay. My plan will turn things around and bring the economy roaring back, with twelve million new jobs created by the end of my first term. President Obama doesn’t have a plan and believes that the private sector is ‘doing fine.’ Obviously, that is not the case. We’ve now gone 42 consecutive months with the unemployment rate above eight percent. Middle class Americans deserve better, and I believe America can do better.”
Can we return middle class America to prosperity? Romney thinks so, we think so. Here’s the plan…