May 2004: 310,000 Jobs Created Nothing to Celebrate — June 2012: 80,000 Jobs Created a ‘Step in the Right Direction’
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In May of 2004, midway through the Bush presidency, with the unemployment rate at 5.6 percent, the economy created 310,000 jobs (at last we find something Obama didn’t inherit from Bush).
Barack Obama was running for Senate then, and he didn’t think this was any reason to break out the champagne:
Fast forward to summer of 2012. Unemployment is 8.2 percent, the economy created 80,000 jobs in June — around 50,000 short of what needs to be created just to keep pace with the people entering the job market — and this is a “step in the right direction”?
The administration is becoming increasingly frustrated with the country because we’re just unable to make our reality match their rhetoric (Biden’s recent “so called job creators” line mocking the private sector being a recent example).