Jobless rate shows Congress had wrong focus
10/22/2013 12:53 PM
10/22/2013 6:42 PM
Instead of shutting down the government for 16 days, Congress should have focused on stimulating the economy.
Unemployment numbers released Tuesday show that the economy remains terribly anemic. The unemployment rate dropped from 7.3 percent in August to 7.2 percent in September.
The report is late because of the government shutdown in a failed tea party attempt to derail the Affordable Care Act. The jobs report also doesn’t reflect the effect the 800,000 non-essential federal workers being forced off the job.
What it did show is the 148,000 jobs created in September was far lower than expected and way below what was needed to show that the U.S. economy is gaining strength.
Meanwhile, sales of previously owned homes slumped in September as mortgage rates have started to climb.
Where’s Congress when so much attention is needed to fix the economy? Plotting and planning the next shutdown in 2014.
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