The trend of decreasing unemployment continues into 2012 as the unemployment lowered to 8.5% which is the lowest in three years. But, perhaps more importantly those job increases are coming in fields that have been hit hardest such as: manufacturing and construction. After 6 straight months of job increases of 100,000 jobs, or more, America seems to be on the right track again. Absolutely we still have a ways to go, but we're going in the right direction and have been now for a sustained period of time. President Obama isn't celebrating too much though because he's dedicated to lowering those numbers even further.
When Obama too office, the economy was in a free-fall from the Bush era, and we were hemorrhaging jobs at an alarming pace. Now the trend is climbing back up toward an increasingly stable economy, and the jobs are importantly in the private sector. Wall-Street has been doing well again for the entire past year and unemployment rates are always a lagging indicator; meaning jobs are the last indicator to improve after a recession. I'm cautiously optimistic that 2012 will continue to improve.
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1 comment:
This is reminding me of Romney's lies and misleads about Obama's jobs record. Obama inherited the worst economy since the Depression and job loss was 2 million the first year of his term. Since then it's come back. Romney is trying to blame the job losses right after Obama took office on Obama instead of where the blame lies. On Bush and his corporate deregulation pals.
As time goes by Obama is getting better and better at his job. I've been very happy the last few months.
I got my info from a Robert reich article in the New York Times yesterday.
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