From Bloomberg:
The jobless rate probably rose in September for a second month as the year-old U.S. recovery failed to generate enough jobs to keep up with a growing labor force, economists said before a report this week.
Unemployment climbed to 9.7 percent from 9.6 percent in August, according to the median estimate of 62 economists surveyed by Bloomberg News ahead of an Oct. 8 report from the Labor Department…
There is the possibility that this bit of negativity is being put out in order to downplay expectations, and thus if the numbers come out a little better (say, 9.5% unemployment), the MSM and the Democrats can go on about how we’ve “turned the corner”. But I tend to think that what we’re really seeing here is people starting to admit that we’re heading back in to recession (with the understanding that statistics aside, I don’t think we ever really left it).
Bottom line, Obama’s economic policies have failed. He asserted, quite stoutly, that without his program, we’d have unemployment above 8%. Clearly, things have not worked out as well as he hoped – and after-the-fact “they could have been worse” claims ring hollow.
Back to a free market is where we must go – it is the only way to create the wealth which will allow us to dig out of this mess.
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