Job creation for the month of June was weak as it was for May according to the latest report from the U.S. Labor Department. Although job creation has been in positive territory for some time it is still not strong enough to reduce the unemployment rate and that is a factor that still affects the American people the most.
The naysayers were out in full force and jumped on the job numbers. However they overlooked the importance of the effect the earthquake in Japan and energy prices have on the job market. The congressional republicans position of opposing every thing coming out of the Obama administration still represents a great threat for making the economy and job market worse. Their position on raising the debt ceiling is still a greater threat and is in line with their record of presiding over weak economies and job creation of the past.
Although the present unemployment rate is unacceptable, past administrations have done worse, including the Reagan administration where unemployment was over 10% for ten straight months even though Reagan was not dealt the severe economic situation Obama was dealt.
In my judgement an unemployment rate closer to 7% than 8% can still be achieved by the end of 2012. It may not be easy and President Obama will have to step up, show more leadership and courage and confront the republicans and expose them for what they are. Roosevelt, Truman and Kennedy had the character and courage to do it and now it falls to Obama. Republican talking points can not change their dismal record for failing to create a sound economy and job creation when they had the opportunity to do so. It is time for them to get out of the way and give the American people a chance under Obama's leadership.
