Remember now nearly a year when the newly inaugurated president and his fellow partisans in Congress were lecturing us on the need to act swiftly and pass a multi-hundred trillion dollar stimulus to prevent future job losses?
Well, it’s been nearly 11 months since Obama signed said legislation–and approximately six since the Democrat promised us unemployment would peak at less than 8% and today we learn that unemployment remains at 10% with employers continuing to lay off employees:
Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 net jobs in December even as the unemployment rate held at 10 percent. The rate would have been higher if more people had been looking for work instead of leaving the labor force because they can’t find jobs.
The sharp drop in the work force — 661,000 fewer people — showed that more of the jobless are giving up.
Guess they’re giving up because they don’t have much confidence that there will be jobs available. Seems the president need develop a plan which will hope enterprises which create jobs to do just that.
But, I don’t think increasing the burdens on small businesses with his massive health care overhaul will make it any easier for employers to innovate and expand.