Sunset News: Another month, another 263,000 jobs lost

"We know we belong to the land and the land we belong to is grand"

Friday, October 02, 2009

Another month, another 263,000 jobs lost

Another month, another 263,000 jobs lost under the Obama administration. According to Bureau of Labor and Statistics data released this morning, the United States economy has lost 3.6 million net jobs since President Barack Obama was sworn into office and the unemployment rate has risen from 7.6 % to 9.8%. It was not supposed to be this way. The experts in the Obama administration promised the American people that the President’s $787 billion stimulus package would create 4 million jobs by the end of 2010. According to the Obama administration’s expert plan, the stimulus was supposed to create or save enough jobs that the unemployment rate would only be 7.8% by this time. Instead unemployment rose last month and is now at a 26-year record high of 9.8%.

In the aftermath of President Obama’s Cash for Clunkers U.S. auto sales plunged 23%, 47% at GM, 44% at Chrysler, 8.9% at Ford, 16% at Toyota, 23% at Honda, 11% at Nissan.

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