Friday, February 1, 2013

Unemployment Rate Ticks Up To 7.9%: Obama Remains Solidly In Last Place Since 1948

Full pdf from the BLS here.

The average report of unemployment under Obama for all months of 2009 through 2012 comes to 8.98%, the very worst record since 1948.

Obama's nearest competitor for worst performance during the period was Ronald Reagan. For all months of 1981 through 1988 Reagan's average report of unemployment was 7.53%, nearly 20% better than Obama's. Under George W. Bush, whom Obama blames for everything, unemployment averaged just 5.27% for the 8 years 2001-2008, one of the five best records since 1948.

The worst stretch of unemployment since 1948 gets even longer under Obama with today's report at 7.9%. 

Chart here.