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 Bill Nelson rammed an $825 billion stimulus into law that was supposed to “create or save” 206,000 jobs in Florida, 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 Nelson 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 Bill Nelson 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.  “Floridians simply cannot afford six more years of Bill Nelson’s failed economic leadership and it’s time to send a true reformer like Connie Mack to the Senate.”

BACKGROUND….

Nelson & Obama Promised The Stimulus Would ‘Create Or Save’ 206,000 Florida Jobs

BILL NELSON: “Specifically, in Florida, this bill is going to ‘create or save’ 206,000 jobs. Nationwide it is going to be somewhere between 3 million and 4 million jobs it is going to create or save.” (Sen. Bill Nelson, Congressional Record, 2/13/09, p. S2281)

• Nelson Predicted The Jobs Would Be Restored Within A Year And A Half. “He said the package is expected to restore 206,000 of the 255,000 jobs lost in Florida so far in the economic crisis, within one-and-a-half years.” (Deborah Buckhalter, “Sen. Nelson Speaks To Stimulus,” Jackson County Floridan, 2/19/09)

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