May 4th, 2012
01:09 PM ET
2 years ago

Romney says no celebration until 4% unemployment rate

Pittsburgh (CNN) - Mitt Romney, slamming President Barack Obama for his performance creating jobs, said Friday any unemployment figure above 4% shouldn't be cause for celebration.

Romney's comments came hours after the Labor Department released figures showing hiring slowed in April, and workers dropped out of the labor force at an alarming rate. At the same time, the unemployment rate fell to 8.1%.

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"Just this morning there was some news that came across the wire that said that the unemployment rate has dropped to 8.1% and normally that would be cause for celebration, but, in fact, anything over 8%, anything near 8%, anything over 4% is not cause for celebration," Romney told a crowd while campaigning in Pittsburgh.

America's seasonally adjusted unemployment rate was last below 4% in December 2000, when it stood at 3.9%. That was at the end of President Bill Clinton's second term in office. In October 2004, just before President George W. Bush won re-election, the unemployment rate was 5.5%.

Romney went on to point out the statistics on workers who have dropped out of the labor force, saying the rate of people in the workforce reflected a sad reality. At 63.6%, the portion of the working-age population participating in the job market is now at its lowest level since 1981.

"The unemployment rate is lower now because not so many people want to work," Romney said. "This is a sad time in America. When people who want work can't find jobs. College kids, kids coming out of college. Surveys said half of the kids coming out of college can't find work or can't find work that's consistent with their skills. This is a time when America wants to have someone who knows what it takes to create jobs and get people working again."

Repeating an oft-used campaign line, Romney told the crowd that in order to create jobs, "it helps to have had a job."

Romney discussed the plight of taxes on small businesses at the Sauereisen Concrete Company, which has been owned by the same family for three generations.

"Right now small business, the top rate they pay is the individual tax rate of 35% and 35% of what they make will go into the government income tax rolls. Then they have the state income tax rolls on top of that," he said.

"What's the state tax here in Pennsylvania?" Romney asked, to which a few people responded with 3.07, the state's flat rate income tax and considered low compared to other states. After he heard the number Romney joked, "That .07 gets you doesn't it?"

At one point during his campaign rally, Romney was interrupted by a veteran who, among other points, advocated turning a veterans' hospital slated to be shut down into a veterans' university.

After a minute of letting the man make his points, Romney interjected, asking if he could finish his stump speech. The candidate eventually allowed the attendee to finish his point.

Also see:

Romney adviser left after being silenced, source says

Bachmann to endorse Romney

Pro-Romney super PAC back on the air


Filed under: Mitt Romney
soundoff (106 Responses)
  1. 2012liberal

    @democrat class warfare- where were u when yr take us 2 yr leader cheney chime 'defects dont matter'. $12 trillion and no jobs from the creators? Yr a fool!

    May 4, 2012 04:07 pm at 4:07 pm |
  2. Mikey

    @Sue/Bren – I think you need to read my posts more carefully. Yes, gas was under $2/gallon in January 2009. IT WAS BECAUSE OF THE GREAT RECESSION. Prices had been over $4/before the recession. The $1.85 was a temporary anomaly due to the drop in demand caused by the recession. You need to understand why, not just what. Can I expect the same post back from you again?

    I suppose you believe out of hand that Michele Bachmann could magically make gas prices fall to $2 per gallon and Mitt Romney can make the unempolyment rate go all the way down to 4%. I guess they can both make pigs fly.

    May 4, 2012 04:08 pm at 4:08 pm |
  3. electrovibe11

    Small businesses don't pay a rate of 35% because most small business simply do not make that much profit and when they do they invest in their small business to make it better. The businesses that pay 35% are medium and large businesses and can afford that rate. We have the lowest tax receipts in 100 years as % of GDP, cutting taxes isn't going to get us more money and fix that problem and definitely won't balance the budget.

    May 4, 2012 04:10 pm at 4:10 pm |
  4. Corporations Are People

    GOP: "Government doesn't create jobs"
    Exhibit A: Willard Myth Romney 47th out of 50 in job creation

    Myth Romney: Shipping your job to China or India.

    PS Willard: Nice try with your pandering in Ohio. We haven't forgotten your flip-flop anti-blue collar stance on SB5 or what you would have done to the auto industry. Willard is a gutless fool.

    May 4, 2012 04:13 pm at 4:13 pm |
  5. Michael

    ====================
    Andrew:
    I love the line- "the only people looking for work are those that had a previous job"- so anyone coming out college doesn't want a job? Humm.. Umm.. I payed my loans off and my debt. Never got government hand outs and I'm a liberal. Romney is a funny character.
    ====================

    HAHA wow you have the worst reading skills I have ever seen. He said "in order to create jobs, 'it helps to have had a job.'" That does not say the only people looking for work are people that have had jobs.

    In fact, further on he says, "This is a sad time in America. When people who want work can't find jobs. College kids, kids coming out of college. Surveys said half of the kids coming out of college can't find work or can't find work that's consistent with their skills. This is a time when America wants to have someone who knows what it takes to create jobs and get people working again."

    Andrew, you need to learn to read and stop pretending that everything the Romney says is somehow bad. You sure gave me a good laugh, HAHAHA!

    May 4, 2012 04:14 pm at 4:14 pm |
  6. Joe from CT, not Lieberman

    Wow. So the guy responsible for more people out on the street than any other American is calling for only 4% unemployment. Maybe if vulture capitalists like Bain did not destroy companies and put people out of work, then Mitt would not sound like so much of a hypocrite.

    May 4, 2012 04:18 pm at 4:18 pm |
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