Friday, April 05, 2013

Unemployment Rate Drops To 7.6 Percent As 500k Leave Labor Force

More smoke and mirrors from the Obama Regime in the March jobs report. Unemployment went down to 7.6 percent as only 88,000 jobs were created (WSJ).

BLEAK JOBS REPORT: There were few encouraging signs from this report. Employers added just 88,000 jobs in March, roughly a third the level of February’s number and the lowest figure since June 2012. Manufacturers cut jobs. The jobless rate fell for the wrong reasons–people dropped out of the labor market. One silver lining: Job growth in January and February was stronger than initially reported. The number of jobs added in those months was revised up by a combined 61,000.

Stats show 500,000 dropped out of the labor force, the lowest since 1979, which is why the unemployment rate looks better than it really does.

1 comment:

John Holliday said...

The unemployment rate is actually pushing 24%. Because the gov't gets to define unemployed as different from being out of a job, we get this picture:

Barack Obama is standing in the ocean. He scoops up water with a bucket from his right side and pours it out on his left side, then exclaims, "There is now less water on my right side!"