Layoff News
President Obama’s re-election hopes might hinge on how quickly he can get the nation back to work. Ronald Reagan is the only president since World War II to win re-election with an unemployment rate above 6 percent, according to Bloomberg. The jobless rate stood at 7.2 percent on Election Day in 1984.
For their part, some prominent economists in the Obama camp seem to agree with the American public that creating jobs is the key to turning the economy around. Larry Summers, the former director of the White House National Economic Council, wrote in an op-ed in the Financial Times in June that boosting spending, borrowing, and lending would help to turn the economy around by increasing demand and creating jobs.
Read the original article here:
Unemployment Surpasses ‘The Economy’ As Country’s Biggest Concern: Gallup
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