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Unemployment Rate: August 2011

Created on September 2, 2011

Unemployment Rate: August 2011

Unemployment Rate: August 2011

Chart 1 •  WM 3350

heritage.org

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.

WHITE HOUSE ESTIMATES

DETAIL

(With Recovery Plan)

ACTUAL

UNEMPLOYMENT

(Without Recovery Plan)

Aug.: 9.1%

Oct. 2009: 10.1%

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.