Unemployment Rate Highest In 26 Years

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

It's now at 9.5%.  Thanks Barack quips the rightwing Gateway Pundit.

Gateway Pundit is either stupid or disingenuous.  Unemployment numbers are a lagging indicator, because employers tend to wait until economic improvement is solidified before they start rehiring again.

Plus, the unemployment rate dropped only 0.1% from May's 9.4%.  This is good news, as it appears that we might not hit the 10% mark as many economists predicted.

And of course, this recession is in its 20th month.  Obama has only been President for five months.  To blame Obama for the bad unemployment numbers is like blaming your lung cancer on the last cigarette you smoked.