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 Democrat Sherrod Brown rammed a $825 billion stimulus into law that was supposed to “create or save” 133,000 jobs in Ohio, 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 Brown 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 Sherrod Brown and today’s report is just further proof that their tax-and-spend agenda are not working,” said National Republican Senatorial Committee spokesman Jahan Wilcox. “Ohioans simply cannot afford six more years of Sherrod Brown’s failed economic leadership and it’s time to send a true reformer like Josh Mandel to Washington.”
Brown & Obama Promised The Stimulus Would ‘Create Or Save’ 133,00 Ohio Jobs
Brown Predicted The Stimulus Would Create As Many As 133,000 Jobs In Ohio.Brown: “Ohio will receive more than $8 billion to help create as many as 133,000 Ohio jobs.” (Senator Sherrod Brown Website, www.brown.senate.gov, Accessed 1/26/11)
And That The Unemployment Rate Today Would Be Less Than 6%