From the Conference
- The unemployment rate has remained above 8 percent for 39 straight months.
- Only 115,000 jobs were created in April, which is the smallest monthly jobs gain in five months. The economy needs to create 150,000 new jobs each month just to keep up with population growth.
- The labor force participation rate declined in April to 63.6 percent, which is its lowest level since 1981. Adjusting for the decline in the labor force participation rate provides a more accurate picture of the unemployed in the United States.
Source: JEC Republican Staff
- When President Obama pushed through his $800-billion stimulus bill, his administration claimed unemployment would drop to 5.9 percent by April 2012.
- 22.8 million Americans remain unemployed or underemployed, or are only marginally attached to the workforce.
- More than 5 million Americans have been out of work for at least 27 weeks. The number of long-term unemployed has increased by 89 percent under the Obama administration.
- President Obama's endless train wreck of new regulations, record-setting deficits, higher taxes, and new Obamacare mandates continues to be a drag on economic growth and job creation.
- GDP only grew 2.2 percent in the first quarter of this year, which was well below expectations.
- Half of recent college graduates are unemployed or underemployed in the Obama economy.