Republicans Continue to Hammer on Obama as Friday's Jobs Report is Released
In the United States, 163,000 jobs were added in July. But, the unemployment rate also went up one-tenth of a point.
In response to the news, the Dow Jones gained 200 points within a half an hour of the opening bell.
But, the up-tick in the unemployment rate gave Romney another opportunity to attack the Obama administration. Romney continues to argue that Obama is mismanaging the economy. Shortly after the report was released, Romney released a statement stating that his economic plan would add 12 million jobs by the end of his first term. He called the jump from 8.2% to 8.3% a "hammer blow to struggling middle-class families."
Continuing to capitalize on the comment that President Obama made in June, but quickly clarified, Romney said, "President Obama doesn’t have a plan and believes that the private sector is 'doing fine,.' Obviously, that is not the case. We’ve now gone 42 consecutive months with the unemployment rate above eight percent. Middle class Americans deserve better, and I believe America can do better.”
Chairman of the White House Council of Economic Advisors said in a statement, "It is critical that we continue the policies that build an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007."
But Republicans in Congress continue to hammer at the President. House Majority Leader, Eric Cantor said, "This month’s jobs numbers underscore the failure of the Obama administration's policies."
President Obama is expected to release a statement today on the report.