Innovation Update

Analysis: 10 Percent Jobless Is Obama's New World

 

JIM KUHNHENN

WASHINGTON (AP) — For months he had warned it was coming but that didn't ease the political shockwaves for President Barack Obama when unemployment topped 10 percent.

A year after his election Obama finds it increasingly difficult to blame the sour economy on George W. Bush or offer reassurances that jobless Americans will soon find work.

Never mind that the economy itself grew in the last quarter, that the recession by most accounts is over and that the number of jobs lost in October was less than one-third the number of job losses at the start of his presidency.

At 10.2 percent, the October unemployment climbed to chart-topping heights unseen in more than a quarter century. The bottom line is that more than 15 million Americans are out of work and 3.5 million lost their jobs while Obama was president. Expected or not, this is Obama's new reality.

"I won't let up until the Americans who want to find work can find work, and until all Americans can earn enough to raise their families and keep their businesses open," the president declared Friday.

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