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POLITICS

Romney: Real unemployment is 11 percent

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Politics,Beltway Confidential,Joel Gehrke

Mitt Romney suggested that the American economy is in a false recovery, in response to the 7.8 percent unemployment in the latest jobs report, citing declining job creation figures and the high number of people who have given up on finding work.

“We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office,” Romney said in a statement today. “If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11 percent.”

114,000 jobs were officially added to the economy. Bloomberg predicted that unemployment would rise to 8.2 percent with such numbers in place, but instead it dropped to 7.8 percent.

“This is not what a real recovery looks like,” Romney also said. “If I’m elected, we will have a real recovery with pro-growth policies that will create 12 million new jobs and rising incomes for everyone.”

 

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