June Report: 8.2% of Americans Remain Unemployed

U.S. job growth remains stagnant, the latest sign that the U.S. economy growth has slowed. The economy remains to be a determining factor for voters in the presidential election and it’s fair to assume that President Obama’s popularity with many Americans out of work is declining. An economist pointed out in an AEI study:

“The good news is that employment growth is not slowing further but there is no sign of it picking up either. At this pace, job creation is not fast enough to lower the unemployment rate with the labor force growing at close to 150,000 per month on average.”

The AEI report asserts that this continues to be the longest streak (41 months) of unemployment of 8% or higher since the Great depression. In 2009, President Obama predicted that if the Congress passed its $800 billion stimulus plan, the employment rate would be about 5.6% today.