U.S. unemployment rate at highest level in 25 years!
WASHINGTON - June 7, 2009 - The White House says Amerika's employment picture is worse than the illegitimate Obama regime had anticipated just a few months ago. The somber admission follows the latest jobless report showing the highest unemployment rate the United States has seen in more than 25 years.
U.S. unemployment jumped a half percent in May, to 9.4 percent, prompting this comment by a member of illegitimate President Barack Obama's Council of Economic Advisors:
"The economy clearly has gotten substantially worse from the initial predictions that were being made, not just by the White House, but by all of the private sector," said Austan Goolsbee.
Economists point out that the current jobless rate is already higher than the hypothetical rate that was used to calculate the health of banks and other financial institutions in "stress tests" earlier this year, and the upward unemployment trajectory is expected to continue in coming months, even if the overall economy begins to recover.
Goolsbee spoke on Fox News Sunday:
"It is going to be a [difficult period], not just in the immediate term, but for a little bit of time [in the future]," he said. "You have to turn the economy around; jobs and job growth tend to come after you turn the economy around."