Have we mentioned lately that the economy is tanking?
Today, the Colorado Department of Labor and Employment (CDLE) released its May unemployment numbers – and the numbers reveal more bad news for the Obama economy. The unemployment rate creeped up to 8.1%, which is up two-tenths of one percent from April. Colorado, which enjoyed lower unemployment than the national average the past few months, is now catching up to the national average of 8.2%. Does this foreshadow a possible uptick in next month’s national unemployment?
In a press release, RNC spokeswoman Ellie Wallace said:
“This morning’s disappointing Colorado jobs numbers are further evidence that the current administration does not understand the needs of the middle class here in Colorado. Yesterday President Obama gave a speech that offered absolutely no new ideas for fixing the economy. The fact is he hasn’t lived up to his promises, and we can’t afford four more years of his failed policies.”
Either way, let’s remember that no president since FDR has ever been re-elected with unemployment above 7.2%. As a reminder, we’re at 8.2% unemployment, nationally. Check out Fox Business host Eric Bolling’s predictions from July of last year.
In the clip, Bolling estimates that the Obama administration would have to hope for 255,000 new jobs every month. Let’s take a look at how many jobs actually have been created each month since July 2011:
Looks like the average jobs added per month – 158,000 – is a far cry from the 250,000 needed to get unemployment under that magic number 7.2% number. It's no wonder Obama's poll numbers continue to be weak, with no sign of improving. But, again, the private sector is doing just fine, right?