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Romney Disputes Unemployment Rate

Jackie Mansky |
October 6, 2012 | 4:24 p.m. PDT

Excecutive Producer

The report will mean that the Romney campaign will have to revise on of their often used slogans, "“42 months of unemployment above 8 percent” (Creative Commons/Flickr)
The report will mean that the Romney campaign will have to revise on of their often used slogans, "“42 months of unemployment above 8 percent” (Creative Commons/Flickr)

The Romney campaign disputed the new unemployment numbers released Friday, which showed that the jobless rate among U.S. workers had dropped below 8 percent.

At an event in Abingdon, Va., Romney argued that the rate did not take into account Americans who left the job market, The Washington Post reported:

"If you just give up and say, ‘Look I can’t go back to work, I’m just going to stay home,’ why, you’re no longer part of the employment statistics. So it looks like unemployment is getting better, but the truth is, if the same share of people were participating in the workforce today as on the day the president got elected, our unemployment rate would be around 11 percent.”

SEE ALSO: The People Behind September's Unemployment Rate

Romney said that the primary reason the job rate has gone down this year is due to the fact that more people have stopped looking for work. 

For his part, President Obama took a carefully optimistic approach to the report, CNN reported.

Speaking at an event in Fairfax, Va., Obama said:

"Every month reminds us that we've still got too many of our friends and neighbors who are looking for work," Obama said.

"Today's news certainly is not an excuse to try to talk down the economy to score a few political points. It is a reminder that this country has come too far to turn back now," the president added.

 

Read more about Neon Tommy's coverage of the economy here.

Reach Executive Producer Jackie Mansky here.




Comments

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GOP Greed (not verified) on October 7, 2012 1:08 AM

President Obama said the unemployment rate is dropping, according to Romney it is not, this is how this little game works -- Obama says, the economy is recovering steadily, Romney says it is not, Obama says the sky is blue, Romney says it isn't it's green, Obama says GM can survive, Romney says it won't let it fail, Obama says Bin Laden is dead, Romney says no he really isn't, Obama says unemployment is dropping, Romney says no it isn't.. get it yet? vote for the facts, not the shell game, vote for Obama.

Your rating: None Average: 3 (2 votes)
Gary (not verified) on October 7, 2012 12:59 AM

The headline to this article is totally misleading! He has never questioned the 7.8 unemployment as being inaccurate or not credible. Romney was referring to the underemployment rate, I would think the author would have the intelligence to know the difference.

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Anonymous (not verified) on October 7, 2012 1:06 AM

That 12% tax on $20M.... He already paid capital gains tax on most of it so the effective rate was more like 27%
Take a tax law class or better yet, get off your butt and build something to make money and you'd learn by experience!

Your rating: None Average: 1 (1 vote)
Anonymous (not verified) on October 7, 2012 1:36 AM

First off, even if that number is true he is still paying lower than large swaths of upper middle class families who pay 30% percent on their income. Second, you're running a shell game which only looks at a very narrow point and not the system as a whole. I’m taxed first on my income, then on what I spend it on. And on top of that, the businesses that I’m buying on are taxed on the profit from those sales. Triple-taxation! And then their employees and investors are taxed..

You get the point. Since taxes are collected all throughout the system, you can claim taxation ad infinitum.

But, I would actually be fine completely elimatating corporate taxes if the right would be fine with raising taxes on all personal forms of income, capital gains included. Income is income, labor or investment derived, and it should be taxed the same. However, the right won't accept any sort of revenue increase thanks to the Norquest pledge, and this is where I have the problem.

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Blessed (not verified) on October 7, 2012 1:04 AM

Actually, it isn't misleading at all because if Romney would of taken a whole hour or two to read the reports, he would of noticed the participation rate actually edged up so slightly. So he is lying yet again for political purposes.

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Blessed (not verified) on October 7, 2012 12:53 AM

To those, like Mitt, saying the numbers are the result of a drop in labor participation, if you would actually of read the report yourself instead of spewing talking points, you would of noticed participation rate actually went up ever so slightly. Man the right sure loved the BLS when they were reporting 10%, 9%, and 8%, but now all of a sudden it is all just a conspiracy. I hope enough American's are fed up with your two way talk and hypocrisy, because as a former republican myself, I am. Good by the what use to be a great political party. Also, no one who is taken seriously on the left is saying we should run massive deficits in order to create jobs. All they're asking for is tax reform to insure everyone is paying a proper rate, and not 12% on 20+ million like Romney.

Your rating: None Average: 3 (2 votes)
Anonymous (not verified) on October 7, 2012 12:29 AM

How can some people call themselves Americans and hope the country fails?

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touch128 (not verified) on October 6, 2012 10:53 PM

Now Mitt does not beleave the rate. Why ? It was all right when it look bad. Now it looks a lot better. Looks like another flip-flop. It is getting to be a every day thing. Something is just not right.

Your rating: None Average: 1 (1 vote)
Anonymous (not verified) on October 6, 2012 10:50 PM

The American people scare the hell out of me...Can't they see the country is near bankruptcy...Creating more government run programs isn't the answer...

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