54 Months: Longest Stretch Of 7.5%+ Unemployment On Record

Unemployment Office SC 54 Months: Longest Stretch of 7.5%+ Unemployment on Record

Since January 2009, when Barack Obama was inaugurated as president, the United States has seen 54 straight months with the unemployment rate at 7.5 percent or higher, which is the longest stretch of unemployment at or above that rate since 1948, when the Bureau of Labor Statistics started calculating the national unemployment rate.

Today, BLS reported that the seasonally adjusted national unemployment rate for June was 7.6 percent, the same it was in May.

In December 2008, the month after Obama was first elected and the month before he was inaugurated, unemployment was 7.3 percent. In January 2009, it climbed to 7.8 percent. In February, the month Obama signed what the Congressional Budget Office would later determine was an $830 billion economic stimulus law, the unemployment rate climbed to 8.3 percent.

In the Obama era, the unemployment rate peaked at 10.0 percent in October 2010. It did not dip below 9 percent until October 2011, when it hit 8.9 percent. From August to September 2012, it dropped from 8.1 percent to 7.8 percent—the first time during Obama’s tenure it went under 8 percent.

Since then, the lowest it has gone has been 7.5 percent—the rate it hit in April. But after April, it ticked back up to 7.6 percent in May and stayed at 7.6 percent in June.

Read More at CNS News . By Terence P. Jeffrey.

Photo Credit: forwardstl (Creative Commons)

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Comments

  1. Obama set another record!!!

  2. The 7.5% number is way, way low, Quit lying!!

  3. PSUTOPGUN says:

    THIS SHOULD SURPRISE NO ONE. OBAMA SAID HE WOULD "FUNDAMENTALLY TRANSFORM THE UNITED STATES OF AMERICA" AND HE IS DOING JUST THAT WHILE INTIMIDATING CONGRESS AND THE COURTS AND POKING HIS FINGER IN THE EYE AND ANY SANE AMERICAN. THE MAN AND HIS ADMINISTRATION MUST BE CHARGED WITH TREASON AND SENT TO JAIL FOR LIFE OR BETTER YET……………………..A ROPE WOULD DO FINE FOR THE WHOLE BUNCH.

  4. Are you kidding me? Have you ever thought that his hands are tied by the people that criticize him. Obviously you don’t know how government works. The President doesn’t have the power you seem to think he has. He doesn’t just say ok it’s going to be this way. He has hoops and loops to go through.

    • Edwardkoziol says:

      Edie nice try you stinking liberal his hands aren't tied when the tar baby lies about the IRS scandal,Fast & Furious ,Killing Americans in Benghazi and more. The worst part is those monkies in the press who don't criticize anything he does.This man told people he would fix everything all he did was create racism to a higher level.

  5. Edwardkoziol says:

    The worst president going but the one thing he is good at is vacationing with Grape ape and the niglets.Take it back 3 things he's good at golfing and wastung money flying in AF1 to party

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