The March jobs report is out. 88,000 jobs were created which is about 70,000 less than it takes to stay even. So unemployment went up right? NO, unemployment went down according the federal government. How is that possible? The report also contains this little gem; 663,000 people dropped out of the work force. They gave up or just realized that getting a job was not in the cards right now. That is why unemployment dropped .1% and the only reason. So this reports of 7.6% unemployment should start to smell like a three day old fish carcass. If the same number of people that were employed in 2008 were still looking for work today but failing to find it unemployment would be almost 11%. That is your Obama economy that started with the summer of recovery 3 years ago. No magic, just numbers.
http://cnsnews.com/news/article/reco...drop-out-march
http://www.bloomberg.com/news/2013-0...ate-falls.html
Why? Tax hikes, Obamacare, fiscal cliff but not sequester like the White House is spinning.
http://www.reuters.com/article/2013/...9330HH20130405 Originally Posted by JD Barleycorn
People Not In Labor Force Soar By 663,000 To 90 Million, Labor Force Participation Rate At 1979 Levels (1979...?? Seems like I can recall that another progressive libtard was in the White House at that time. Not sure which is worse, 90 million out of the workforce, or 47% receiving some form of government handout.)
Tyler Durden, 04/05/2013
Things just keep getting worse for the American worker, and by implication US economy, where as we have shown many times before, it pays just as well to sit back and collect disability and various welfare and entitlement checks, than to work .The best manifestation of this: the number of people not in the labor force which in March soared by a massive 663,000 to a record 90 million Americans who are no longer even looking for work. This was the biggest monthly increase in people dropping out of the labor force since January 2012, when the BLS did its census recast of the labor numbers. And even worse, the labor force participation rate plunged from an already abysmal 63.5% to 63.3% - the lowest since 1979! But at least it helped with the now painfully grotesque propaganda that the US unemployment rate is "improving."
http://www.zerohedge.com/news/2013-0...n-rate-1979-le