The 8.2 percent unemployment numbers released Feb. 1, 2012 are based on the removal of another million-plus jobs. There are less jobs available now than in 2008. Until the jobs number increases, unemployment figures will not reflect the recession’s true depth. No President since Franklin Roosevelt has been re-elected with an unemployment rate of 8 percent. That’s why this administration and those in the media who support Democrats want you to think unemployment is going down.
Unemployment is not predicted to go down for another three years, at least. The Congressional Budget Office (CBO) in a Feb. 1 report pegged true unemployment at more than 10 percent. It shoots up to 15-plus percent if we add the number of people who quit looking, and part- timers looking for full-time work. New York State Comptroller Thomas DiNapoli’s report confirms those numbers. However, that has more to do with New York's economic policies than Federal policies.
The CBO projects economic growth to be 2.2 percent this year and 1 percent for 2013. Its report cites existing tax policy next year and anti-energy production this year as reasons for the uptick.