Even as initial claims for unemployment benefits increased 38,000 last week and reports out Wednesday showed the economy shrinking in late 2012, President Obama will not renew his jobs council.
The Council on Jobs and Competitiveness formed in January 2011 when unemployment was above 9 percent and will come to a close with more than 12 million people in the U.S. still out of work and the unemployment rate at 7.8 percent, according to US News.
The end comes as a result “of the administration not renewing the council, which sunsets Thursday,” Fox News reports.
This development is not expected to have any impact on unemployment as the council has not met in over a year. A reality that did not stand in the way of Obama being elected to a second term.
In fact, Americans don’t appear to be phased much by poor economic news resulting from Obama’s policies. The Rasmussen Reports daily Presidential Tracking Poll for Thursday shows that 54% of Likely U.S. Voters at least somewhat approve of Obama’s job performance.
Obama’s ability to avoid criticism put hims in company with both Ronald Reagan, nicknamed the “Teflon President,” and with Gambino family mafia boss John Gotti, known as the “Teflon Don.”