Raises Bar on What Constitutes Good Unemployment Rate
May 4, 2012
raised the bar for what comprises an unemployment rate worth
celebrating as he
used the latest jobs figures to criticize President Barack Obama’s
of the economy while campaigning in Pennsylvania.
over four percent is not cause for celebration,” the presumptive
presidential nominee said inside a warehouse of a specialized cement
resistant materials manufacturer in Pittsburgh.
going to get America working again,”
Romney told supporters. “I’m going to get America strong again.”
Massachusetts governor called it a “sad time in America for people who
and can’t find jobs.”
in the U.S. added fewer workers than forecast in April while the
declined as people left the labor force, underscoring concern that the
by the world’s largest economy may be losing speed.
climbed 115,000, the smallest gain in six months, after a revised
in March that was greater than initially estimated, according to Labor
Department figures released today in Washington. The median estimate of
economists surveyed by Bloomberg News called for a 160,000 advance.
rate fell to a three-year low of 8.1 percent, from 8.2 percent in March.
jobless rate has declined since its peak during Obama’s term of 10
October 2009, the drop has been slow and halting. It was stuck at about
percent through the first three quarters of last year.
campaign responded to Romney’s speech by calling it “filled with
distortions” about the president’s record and his own.
change the fact that the president brought the economy back from the
another Depression and we’ve now seen over 4.2 million private-sector
created over the last 26 months,” Obama campaign spokeswoman Lis Smith
to Romney’s business experience as a private equity executive, Smith
profited handsomely by laying off workers and outsourcing American
Krueger, chairman of the White House Council of Economic Advisers, said
payroll growth shows the economy is on the mend. More needs to be done,
in a statement, and Obama will keep pressing Congress to pass the
the jobs proposal he laid out last year that have been rejected by
adverse shocks that have created headwinds for economic growth, the
added private sector jobs for 26 straight months, for a total of 4.25
payroll jobs over that period,” Krueger said.
speaking to several hundred people crowded into the warehouse, said
taken repeated actions that strained the free enterprise system.
“We have a
president who is continuing to push against economic freedom,” he said.
right course for America is not to repress freedom, but to encourage
his economic game plan would include slowing the growth of the federal
I know I’m not going to do is go hire a bunch more people in the
government,” he said.
a region that mines coal, Romney said Obama has made the industry’s
doesn’t like coal,” Romney said. “He’s making it harder for the people
coal and harder for enterprises to use it.”
by the Environmental Protection Agency under Obama to reduce pollution
coal-fired power plants have earned criticism from the industry and
from environmental advocacy groups.
leading Romney in Pennsylvania 47 percent to 39 percent, a Quinnipiac
University poll released yesterday shows. The survey was taken April
and has a margin of error of plus-or-minus 2.9 percentage points.
opinion article in today’s Cleveland Plain Dealer newspaper, Romney
Obama to Ohio ahead of the president’s planned campaign visit to the
President, your promises now ring hollow,” Romney wrote. “If you have
new ideas to Ohio for creating jobs, why have you waited three years to
them? Have you suddenly had a revelation, or is it because 2012 is an
year? Whatever the case, what you are offering Ohio now is too little,
campaign event, Romney met privately with former Senator Rick Santorum
Pennsylvania, who emerged as his main rival in the race for the
nomination. Santorum, hasn’t yet formally endorsed Romney, ended his
on April 10. Romney’s campaign had no immediate comment about today’s
and other articles at Bloomberg