Friday, May 04, 2012

White House Celebrates Crappy Jobs Growth

Barack Obama is boasting that the private sector added 130,000 jobs in April. That falls somewhat short of their earlier predictions though.
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.
Less than a quarter of what Biden predicted. But Obama just shrugs it off.  And now he’s going to call for “common sense” or something while blaming Congress for his abject failure.
Of course, the biggest factor driving down the unemployment rate last month were the half million Americans who dropped out of the labor force last month, despairing at their chances of ever finding work.


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