Last month, US employers were able to provide with only 96,000 jobs in total. This weak statistic is believed to have lowered the progress that President Barack Obama was hoping to gain from. These figures have drastically ruined the hopes of many Americans, who believed that the employment status in the country is improving.
In the month of July, the total jobs revealed accounted for 141,000, which were far too less to help in the growth of the country, August figures ended at just 96,000 jobs. Thus, declining the unemployment rate from 8.3% to 8.1%, but there are many others who have left the hope that they will attain a job, so they are not considered under the category of unemployed.
It has being warned that on an estimate if each month only 90,000 jobs are provided, then the economy will grow at a rate of 2% every years.
The figures are a disgrace to the re-election campaign launched by President Barack Obama, although, the unemployment rates have declined from 10% administered in October 2009. However, none of the Presidents except Franklin D. Roosevelt has been able to raise unemployment rate above the 7.8% mark.
Mitt Romney said, "The weak jobs report is devastating news for American workers and families, a harsh indictment of the president's handling of the economy”.
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