From the National Republican Congressional Committee (NRCC)…
With National Unemployment at 8.2%, Expert Says Almost 15 Mil Net New Jobs Needed To Restore Employment Rate To Pre-Obama Levels
Washington — The national unemployment rate for the month of March was announced today at the persistently high 8.2 percent, reflecting the harm Bill Foster’s prospective Democrat leaders like President Obama are causing for Illinois families. As the hardworking people in Illinois are facing increased regulatory burdens and job-crushing tax hikes, will Bill Foster merely double down on his party’s failed economic policies?
“Bill Foster’s Washington Democrat allies continue to promote an anti-growth agenda, and the rate of participation in the workforce remains dangerously low, continuing a trend of high unemployment that is crushing the economy,” said NRCC Communications Director Paul Lindsay. “Given the failed leadership from President Obama and his fellow Washington Democrats, will Foster simply rubber-stamp their addiction to wasteful spending, regulating and taxing?”
March unemployment numbers remained troubling as hiring slowed:
“US hiring slows in March as employers add just 120K jobs, unemployment rate dips to 8.2 pct.” (Associated Press, 4/6/12)
The Democrat party has watched the American job market deteriorate for so long that experts now say nearly 15 million jobs must be created to lower the unemployment rate to pre-recession levels:
“A much-needed reminder that despite the recent upturn in the jobs market, there is still an awfully big employment hole to fill, as JPMorgan economist James Glassman points out:..
“In other words, to restore the job market to the state it was in back in 2007, before the recession, would require the creation of 14.8 million jobs in today’s terms, a daunting task to say the least.” (James Pethokoukis, “The Obama Jobs Gap is up to 15 million missing jobs,” The American’s Enterprise Blog, April, 2, 2012)