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 – who personally recruited Richard Carmona to run as a Democrat – rammed an $825 billion stimulus into law that was supposed to “create or save” 3.5 million jobs, 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 Carmona and his 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 Richard Carmona 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. “Arizonans simply cannot afford Richard Carmona’s failed economic leadership and it’s time to send a true reformer like Jeff Flake to the Senate.”

BACKGROUND….

President Obama Promised The Stimulus Would ‘Create Or Save’ 3.5 Million 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)

And That The Unemployment Rate Today Would Be Less Than 6%