So now, the nation's nonfarm payroll has grown by only 39,000 jobs in November and that translates into a jump in unemployment to 9.8% -- the highest jobless rate since April. This amounts to a jump of .2%
It seems as if we're moving backwards, not forward.
One economist called the latest figures "a painful reality check for those hoping that a meaningful acceleration in economic activity was underway."
And here's another disheartening statistic: Of the 15.1 million persons unemployed in November, nearly 42% had been jobless for 27 weeks or more.
Amazingly, even retail sales lost 28,000 jobs in November. This surprised economists who had been expecting a gain as we ramp up toward Christmas.
Let's face it: Democrat economic stimulus plans have not worked. Big Government has failed miserably.
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