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Unemployment Rate May 2013

Created on June 7, 2013

Unemployment Rate May 2013

CHART 1

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.

WHITE HOUSE ESTIMATES

May 2013: 7.6%

October 2009: 10.1%

ACTUAL UNEMPLOYMENT

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 3962

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