April’s unemployment figures show that the number of people unemployed was 13.7 million, or 8.9 percent of the labor force.
Administration economists Romer & Bernstein predicted that the stimulus/recovery program would hold unemployment to only 7.8 percent of the labor force, or approximately 12 million.
With unemployment 1.7 million higher than projected, by the Administration’s own benchmarks, it seems that its stimulus/recovery plan is performing much worse than expected. In fact, it is performing worse than if there were no recovery plan.
Tags: employment, recovery, stimulus