Friday, May 04, 2012

Jobs Market Stalls

US President Barack Obama on Friday shrugged off a disappointing Labor Department report on jobs growth, and said he would press Congress to pass "common sense" measures to create employment.

Obama chose to focus on the fact that the rate of unemployment dropped from 8.2 percent from 8.1 percent, not the headline number showing the economy created only a net 115,000 jobs last month, below market expectations.

"After the worst economic crisis since the Great Depression, our businesses have now created more than 4.2 million jobs over the last 26 months (and) more than one million jobs in the last six months alone," Obama said at a school in the crucial election swing state of Virginia.

"That's the good news, but there are still a lot of folks out of work which means we have got to do more," Obama said, as the unemployment data clouded the official launch of his reelection campaign on Saturday.

"Next week, I am going to urge Congress... to take some actions on common sense ideas right now that can accelerate even more jobs growth."
Oh yeah! He has really shown that he knows his stuff so far!


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