Presidential Candidate Newt Gingrich released the following statement reacting to the November jobs report:
Today's November jobs report marks yet another devastating landmark in the Obama jobs crisis.
Although the official unemployment rate dropped below 9 percent, it fell not because entrepreneurs were creating new jobs, Americans were getting back to work, and families were enjoying renewed prosperity, but for a completely opposite, tragic reason: So many Americans -- over 300,000 alone this month--have simply given up looking for work.
Obama is now 34 months into his presidency, and the economy has lost 1.9 million total jobs since he took office. At the same point in the Gingrich speakership (November 1997), Americans had created 303,000 jobs in one month alone, and had created 7.7 million total new jobs since he became speaker. This is a "Obama-Gingrich jobs gap" of 9.5 million. (see chart below)
The Obama model of class warfare, government takeovers in the economy, and creating fear and uncertainty for job-creators has failed. Congress could take bold steps next week to reform tax and regulatory policy dramatically, fix entitlements, and cut spending; otherwise, the economic recovery will begin on Election Night 2012 the second the country realizes that Barack Obama has been defeated.