Romney Goal: 4% Unemployment, Half A Million New Jobs
Mitt Romney lashed out at the White House administration over the latest jobs report that was released on Friday. The report said that only 115,000 new jobs had been added to the economy during April. He also said an unemployment rate of over 8% was not a cause to celebrate. In using figures to attack how the Obama administration is handling the economy, Romney revealed benchmarks of his own that might prove troublesome for job creation if he became the president.
Romney was giving a speech near Pittsburgh when he slammed the administration about the jobs report. He acknowledged the unemployment rate was down slightly but at 8%, it is not reason to be happy, as anything above 4% unemployment is high.
However, his mention of the 4% magic number could prove to be problematic for him. The rate has not been that low since December of 2000 in the U.S. That was not the only benchmark the former Governor of Massachusetts set on Friday. During an interview, Romney suggested the U.S. economy should be adding up to 500,000 jobs each month. That is close to four times the jobs growth the U.S. economy experienced in April.
He said that numbers approaching half a million new jobs each month are what he would like to see. Romney said that what is happening at present is way off what should be happening during a normal recovery. He said it was not progress, and was quite disappointing.
However, Romney’s numbers for new jobs could be quite hard if not close to impossible to reach. Over the past 50 years, 500,000 jobs per month have been attained only five times. Ronald Reagan succeeded once and Bill Clinton once.