Yes, unemployment ticked downward to 7.6% despite adding only 88k jobs. But it’s only because the labor force is at its lowest level since 1979:
MARKETWATCH — The United States created the fewest number of jobs in March in 10 months, adding to a string of reports suggesting companies have cut back on new hires and that the economy is slowing again.
The economy added a seasonally adjusted 88,000 jobs last month — the smallest increase since last June — and nearly half-a-million people stopped looking for work last month, according to data issued by the Labor Department Friday.
The unemployment rate fell a tick to 7.6% from 7.7%, marking the lowest level since December 2007, but the decline stemmed from more Americans dropping out of the labor force.
The participation rate, a measure of how many healthy people of working age who have a job, fell again to 63.3%. That’s the lowest level since the spring 1979.
The March jobs report fell well below Wall Street expectations. Economists polled by MarketWatch had forecast a 190,000 increase in jobs. U.S. stocks futures SPM3 -1.07% slumped after the report.
I am so sick and tired of hearing Democrats tell us this economy is growing, that it’s improving. We’ve had anemic GDP growth for I don’t know how long now, and we can’t even create 100k jobs on a regular basis. Not to mention the fact that we need at least 250k jobs per month to hold with population growth. And the labor force has done nothing but shrink since Obama has come in office and is now at its lowest level since the Carter years.
And yet these hacks that we call Democrats will get on TV and defend this mess. It’s indefensible!
No, Obama needs to be called out of this crap by Democrats, the MSM, and Republicans alike. In fact Republicans need to be screaming about this stuff, not a path to citizenship for illegals. That’s only gonna make this problem worse.