Recovery? Unemployment Rises to 7.9%
February 1, 2013 - 5:46 am
The Obama administration will undoubtedly blame former President George W. Bush, but unemployment is higher now than it was when Obama took office four years ago. At the beginning of February 2009, the unemployment rate was 7.6%.
On Thursday, news broke that the gross domestic product had grown a measly 1.5 percent over the past year. The participation rate in the economy remained flat, meaning the rise in unemployment is not due to more Americans looking for work.
Yet Democrat Sen. Harry Reid insists that the American economy is in recovery.
Update: Reuters spins the rise in unemployment as a sign that the recovery is still “on track.” Astounding.