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Unemployment Rate January 2011

Created on February 4, 2011

Unemployment Rate January 2011

Unemployment Rate: January 2011

President Obama promised that government spending would “stimulate” the economy and quell rising unemployment by “creating or saving” millions of jobs. In January 2009, Obama’s advisers produced a chart (bottom) visualizing the positive results of his recovery plan. But actual unemployment (below, detail from box at bottom) has far exceeded the White House estimates. Sources: Unemployment data from the Bureau of Labor Statistics; original chart from Christina Romer and Jared Bernstein, “The Job Impact of the American Recovery and Reinvestment Plan,” January 10, 2009. Other text: Chart 1 heritage.org WHITE HOUSE ESTIMATES DETAIL WHITE HOUSE ESTIMATES (With Recovery Plan) ACTUAL UNEMPLOYMENT (Without Recovery Plan) Jan.: 9.0% Oct. 2009: 10.1%