Romney on jobs report: “A sad reminder …”
posted at 9:35 am on November 2, 2012 by Ed Morrissey
Via Fox News:
“Today’s increase in the unemployment rate is a sad reminder that the economy is at a virtual standstill. The jobless rate is higher than it was when President Obama took office, and there are still 23 million Americans struggling for work. On Tuesday, America will make a choice between stagnation and prosperity. For four years, President Obama’s policies have crushed America’s middle class. For four years, President Obama has told us that things are getting better and that we’re making progress. For too many American families, those words ring hollow. We can do better. We can have real economic growth, create millions of good-paying jobs, and give middle-class families the security and opportunity they deserve. When I’m president, I’m going to make real changes that lead to a real recovery, so that the next four years are better than the last.”
Crunching the latest numbers:
- With this month’s report, we have added a net 3,2525,000 jobs to the economy in the 41 months since the recovery began in June 2009. That’s an average of 79,317 jobs per month, far below what’s needed to keep up with population growth (~125K per month).
- In the private sector, we’ve added 3,811,000 jobs, averaging 92,951 jobs per month — still way below what’s needed to keep up with population growth.
- In 2012 alone, we’ve added 1,569,000 jobs overall, for an average of 156,900 per month. That’s a better rate than the overall recovery, and it keeps up with population growth — but at that rate, we’d need to go 251 months to recover the 8 million jobs we’ve lost — over 20 years.
A sad reminder, indeed.