The power of stimulus

Government has welcomed the fall today in unemployment. Meanwhile, the Obama team have emailed supporters with a graph declaring "We're on the road to recovery."

On the morning that the British Government welcomed the fall in ILO unemployment and youth unemployment, Barack Obama’s campaign manager David Plouffe has emailed the President’s list of 13 million supporters with an email declaring “We’re on the road to recovery.”

The chart, reproduced below, shows how the American Recovery and Reinvestment Act has helped slow increases in unemployment.

Although the number of people claiming Jobseekers Allowance has increased, figures out today in the UK confirm that the recession has had a milder impact on jobless numbers. The Office for National Statistics writes today:

“When compared with previous recessions, the unemployment rate in the 2008-09 recession has remained lower.”

The UK stimulus was considerably smaller than the US stimulus so continued support is needed to secure the recovery. Left Foot Forward will have more analysis on the jobless numbers later today.

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