Quote:
Originally Posted by The Demon
No, it's not coming down. You see, when Reagan was president, the unemployment stats were recorded and reported differently by the BLS. So right now we're at around 16-17%. And no, it's not coming down because unemployment benefits are running out for many unemployed. That doesn't magically make them employed. Try again.
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Let's break this down for you, too.
From the beginning of 2008 until the end, unemployment rose a total of 2.7% under the Republican president.
From February '09 until December '09 (Obama was sworn in on Jan 20th -- wouldn't be fair to hold January against him), unemployment rose 2.4% from 7.7% to 10.1%. It then fell to 9.7% in January '10.
The Republican administration shed more jobs than the Democratic one.
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet
Congress has continuously extended jobless benefits since unemployment became an issue during the recession. The current extension is set to run out on Feb. 28 2010.