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Unemployment Rate: September 2012

Created on October 5, 2012

Unemployment Rate: September 2012

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 visualizing the positive results of his recovery plan. But actual unemployment (in red) has far exceeded the White House estimates.

chart 1

October 2009: 10.1%

September 2012: 7.8%

ACTUAL UNEMPLOYMENT

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.

IB 3749

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