Contact Us

Since Stimulus, 1.9 Million Fewer Americans Working

Unemployed Teachers at Los Angeles Job Fair
(Photo by Kevork Djansezian/Getty Images)

It’s been 2 years and four months since President Obama and Congress passed what was supposed to be the largest economic jump start in US history.  But it doesn’t appear to have worked.

Enough time has passed since it’s passing to gauge full-term effects of job creation and economic growth.  According to statistics from the Federal Bureau of Labor (BLS) 1.9 million fewer people are working in America then in February 2009, when the stimulus kicked into full effect.

Former White House Chief Economist Larry Summers says while the actual number of people with jobs has gone up slightly, employment rates keep dipping because of two factors:  1) more candidates entering the workforce from college and high school, and 2) the economony-while technically growing with new jobs, keeps losing jobs as businesses suffer in the uncertain financial enviornment.   Both the BLS data, and Summers (from a Washington Post Op-Ed piece) show the economy is not producing jobs fast enough, disputing Obama’s claims that the economy is recovering and producing new jobs.   Another telling statistic: the unemployment rate, which was at  9.1 percent, according to the BLS.

Since Obama took office, the unemployment rate has rocketed from 5′s and six’s to well above 9 percent for the bulk of his term-including since the stimulus passed. While small fluctuations occur, a few tenths of a percent here and there, the significant, long term drop that was expected has not happened.  Obama has the highest unemployment rate for the longest period of time of any president dating back over the last 31 years.

Best of Newstalk 870

Recommended For You

Around the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://newstalk870.am using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Register on Newstalk 870 KFLD: The Mid Columbia's Newstalk Leader quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a member? Sign up here

Register on Newstalk 870 KFLD: The Mid Columbia's Newstalk Leader quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Sign up to have exclusive Newsmembers contests, events, coupons, presales, and much more delivered to you for FREE.