White House Press Secretary Dana Perino issued the following statement Friday:
Today’s job report reflects the sharp slowdown in economic activity caused by problems in the housing and credit markets. Monthly job losses have been nearly six times higher since problems in the financial markets worsened in September. Understanding how severe the problem was, the President worked aggressively to address the root causes of the current economic problems, and he signed an additional expansion of unemployment insurance benefits to help more Americans weather the downturn. The administration has taken bold and decisive actions to help the economy, but those actions will take time to have their full effect. Americans can have faith that the economy can return to growth and job creation this year.
Related: 2.6 million jobs lost in 2008
@ Big Al
You're welcome to go with them.
Duhhhhhhh. 11 more days and our 8 year national nightmare will be over.
Big Al, will you please share with us what it's like to live in that alternate reality in which you apparently dwell. Is it anything like "opposite day"?
Big Al, will you please share with us what it's like to live in that alternate reality in which you apparently dwell? Is it anything like "opposite day"?
RealityKing January 9th, 2009 10:13 am ET
8% is considered an historically good unemployment rate. And how many people were working in 1945? 1975??
In 1945, the US population was 150 million. That's half of today's population.
In other words, 8% unemployment today is equivalent to 16% unemployment in 1945.
Oh, and by the way, the US population in 1930 was 123 million, which is the equivalent of 20% unemployment in 1930. In other words, in absolute terms, 8% unemployment today is as many people as 20% in 1930. That's almost as many unemployed people as during the Great Depression.
Looks like unreality king is now posting under big al...
nope, no one except you has that point of view. the global economy is tanking because the effects of the last 8 years of bush-chehey policy are coming home to roost.
Brandon, don't forget bush did a number on the Texas Rangers...made the playoffs before him; never since, AND he traded away Sammy Sosa.
Yeah thats right Obama and there will be more job loses once you start taxing those buisness making over 250th. to pay for your tax credits.
Sorry, I cannot accept that President Bush is working hard at anything other than trying to make himself look better. There is a reason that his popularity rate is the lowest we've ever seen for a sitting President since the polls started! But we are all to blame here...we didn't do our research, we didn't get out the vote in 2000 and 2004 (check the figures of how many actualy voted in those elections), and we didn't start screaming bloody murder when the government took away our Constitutional rights and legalized torture.
We here in Texas know President Bush well. Those three companies he ran into the ground and had to bailed out by his daddy were HERE. The people he put on unemployment were HERE. And it is my unfortunate privilege to know he will be moving into his new multi-million dollar house less than 10 miles from me while hundreds, including me, are fighting to keep our much more modest homes within that 10 mile radius, much less the tens of thousands across the country. Somehow I doubt I'll see Laura at the local grocery stores, or George out moving his own yard!
You can`t be serious!!
Ken, you are right. I have been sayign for some time that the american worker is gonna get slammed and here it is. Illegal immigrants and outsourcing have just about destroyed jobs here. Not to mention your fact that we are being drastically underpaid and the median level of pay is well below livable means.
Surely you gest !!!
Wait, let me guess.... they "didn't see it coming".
George W. Bush. Worst president ever. No wonder his dad hangs out will Bill Clinton. Junior has to be a great disappointment to him.
"BUSH WORKED AGRESSIVELY TO ADRESS THE ROOT CAUSES OF OUR ECONOMIC PROBLEMS". DON'T MAKE ME THROWUP, BUSH IS THE CAUSE OF OUR ECONOMIC PROBLEM.
The sky is falling, the sky is falling..
Thanks to the democrat congress, our economy is tanking. Everything was rosy until you foolish people put those goons into power. And now you have elected a Socialist/Marxist to "lead(???) them?
The unemployment rate has finally gotten near Clinton's worst month while he was president.
I agree with you, "W" acted too much like a democrat on this issue.
Thank god W will join the ranks fo the unemployed
Obama, since you and your economic team intend to bail out homeowners who won't pay their mortgages (contracts), please send me a lot of money, too, and by all means don't bother to find out just who will have to pay for my share - what family will give up what so you can run your Socialist/Marxist programs?
ARE YOU KIDDING?!?!?!?!?!?!?!?!?!?!?!?!