Tuesday, August 17, 2010
This sobering graphic by Latoya Eguwuekwe, charts the shocking rise of unemployment across the U.S. starting in 2007 through July 15, 2010. The U.S. Dept. of Labor estimates 31 million Americans are now without a job.
The graphic is a time-lapse picture of the U3 unemployment statistic, which doesn’t account for the millions of underemployed and those who’ve simply gave up looking for work completely.
It must be said that no president can single-handedly wave a magic wand and create jobs out of thin air but, it’s worth noting by the end of President Bill Clinton’s eighth year in office, with a series of sex scandals and impeachment hearings swirling around him, still managed to create 23 million new jobs.
While President Obama is no President Clinton, and in all fairness, Mr. Obama was became president in the midst of the worst economy since the Great Depression, President Obama must do more to create the conditions that lead to the creation of new jobs. The U.S. will not remain a First World nation indefinitely with unemployment numbers like this.
At the end of the day, President Bill Clinton was correct all along when he opined, “It’s the economy, stupid.”