There were new jobs created throughout the month of July, but that doesn't necessarily mean the Obama administration should be celebrating—yet. A reported 163,000 jobs were created in July, and while the number is more than any other month since February, the unemployment rate has risen from 8. 2 to 8.3 percent.
Over 12 million people remain unemployed, but President Obama has been clear about the process taking time, as the economy did not tank overnight. As expected, Mitt Romney, immediately pounced on the newly released figures. “We've now gone 42 consecutive months with the unemployment rate above 8 percent,” the Republican presidential hopeful said in a statement. “Middle-class Americans deserve better, and I believe America can do better.”
Romney also used the opportunity to outline how he will do a better job than Obama, if elected. “My plan will turn things around and bring the economy roaring back, with twelve million new jobs created by the end of my first term,” he promised.
On the contrary, House Minority Leader, Nancy Pelosi, praised the commander in chief for the small but notable progress in job creation. “Last month, 163,000 jobs were created despite Republicans' refusal to work with President Obama and Democrats to create jobs, grow our economy, and ensure the economic security of our middle class,” she said. Pelosi also stated that given the staggering unemployment numbers the government “must do more,” to bring citizens out of what could turn into a dismal economic future.
Going into November's election, Obama is pressed with the task of convincing voters to allow him another term. No other U.S. president has been re-elected with an unemployment rate of more than 8 percent, but Obama has managed to keep his head above water, beating Romney in battleground states, and has more delegates than the 65-year-old former governor.
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Photo: The Inquisitr