Less Than 100,000 Jobs Created For The Month Of August, Labor Force Participation Rate Falls To Lowest Point In 31 Years
Nearly four years ago, President Barack Obama and liberal Congresswoman Shelley Berkley rammed an $825 billion stimulus into law that was supposed to “create or save” 34,000 jobs in Nevada, yet today’s jobs report reiterates that their failed economic policies are not working.
As the Wall Street Journal reports:
JOB GROWTH SLOWS SHARPLY IN AUGUST: Job growth slowed sharply in August, the Labor Department said Friday. Total nonfarm payrolls increased by 96,000, lower than the 125,000 gain expected by Wall Street economists. Adding to the sense of weakness, job growth in the past two months were revised down by 41,000. The unemployment rate declined to 8.1% in August from 8.3% in the previous month but the drop was due to a smaller labor force. Economists forecast the unemployment rate to hold steady at 8.3%. Average hourly earnings were flat at $23.52. Earnings are up 1.7% in the past year. The average workweek was unchanged at 34.3 hours. (Greg Robb, Job growth slows sharply in August, Wall Street Journal’s Market Watch, 9/7/12)
Notably, according to Reid, Berkley and their fellow Democrats if their policies actually worked the national unemployment rate would be well below 6 percent by now.
“We’ve tried the failed policies of President Obama and Shelley Berkley and today’s report is just further proof that their tax-and-spend agenda is not working,” said National Republican Senatorial Committee spokesman Jahan Wilcox. “With Nevada as the unemployment capital of the country, it’s clear we can’t afford Shelley Berkley’s failed record.”
Berkley & Obama Promised The Stimulus Would ‘Create Or Save’ 34,000 Nevada Jobs
ASSOCIATED PRESS: The Obama administration is defending its claim that the $787 billion economic stimulus plan will save or create 3.5 million jobs before 2011 even while conceding that unemployment will likely continue to rise beyond its earlier predictions. (Stimulus plan will create or save 3.5 million jobs, White House says, Associated Press, 05/11/09)
SHELLEY BERKLEY: “From incentives to increase clean energy production to funding for work on I-15 and the Las Vegas Beltway, this [stimulus] package will mean jobs for Nevada at a time when we continue to face record unemployment levels,” said Berkley. “According to the White House, passage of this legislation will create or save 34,000 jobs statewide, with the majority of those in Clark County.” (Shelley Berkley, Berkley: Report Shows Broad Economic Recovery Package Will Mean More Nevada Jobs, Press Release, 02/12/09)
And That The Unemployment Rate Today Would Be Less Than 6%