So, in case you haven’t heard, President Obama’s economic policies are working like a heavy hammer on a greased nail.
Friday’s monthly jobs report changed the picture of the U.S. economy in more ways than one, showing the unemployment rate fell to the lowest level in more than three years and hiring was stronger than originally reported throughout the summer.
Unemployment unexpectedly fell to 7.8% in September, down from 8.1%, as a survey of U.S. households showed 873,000 more Americans had jobs compared to a month earlier.
So, what does Bain Capital do?
Sensata Technologies, a company owned by Bain Capital is closing down its Freeport, IL plant and moving it to China. The company’s 175 workers will lose their jobs. The employees wrote a letter to Bain’s founder, Mitt Romney, last week asking him to help save their jobs. He has not responded as yet.
Bain Capital is determined to get those unemployment numbers back up, dammit.
Thanks to Marcia for the heads up.