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Unemployment Rate: December 2011

Created on January 6, 2012

Unemployment Rate: December 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.

WHITE HOUSE ESTIMATES

DETAIL

(With Recovery Plan)

ACTUAL UNEMPLOYMENT

(Without Recovery Plan)

Dec.: 8.5%

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.

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Chart 1 •  WM 3442