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April’s Unemployment Numbers are Troubling

Posted by Steve Markowitz on May 4, 2012

The Labor Department this morning released April’s employment numbers and it wasn’t good.  While the headlines stated that the unemployment rate dropped from March’s 8.2% to 8.1%, with only 115,000 jobs added this seemingly positive trend could only have come from workers dropping out of the market and not being counted as unemployed by the government.  In fact CNNMmoney reported that over 340,000 people stopped looking for work in April, three times more than the number of jobs created.  As has been said, figures lie and liars figure.

CNNMoney also reported that since the recession started, nearly 9 million jobs were lost.  Since the “recovery” began, only 3.7 million have been added back.  The graph shows that the trend is quite negative.  It is obvious that the trillions in governmental spending, bailouts, and other governmental interventions have not put the economy back on a sound footing.  How much more needs to be spent for the Country to understand that governments do not and cannot create prosperity?

Look for the Progressives in Washington to start calling for even more governmental intervention and spending.  Sooner or later these knuckleheads will succeed in creating inflation, but not prosperity.


One Response to “April’s Unemployment Numbers are Troubling”

  1. Jim Mahoney said

    Since no president in the modern era has ever been reelected with an unemployment rate above 8%, you can count on team Barry to make sure the published unemployment will be magically below that by this fall. You have hit the nail on the head; the administration has achieved these numbers by changing the way the unemployment rate is calculated. If the labor participation rate was the same as it was under George W Bush, the current unemployment rate would be over 11%.

    Obama can count on the mainstream media to dutifully report any numbers he chooses with no analysis or intellectual curiosity whatsoever. Perhaps a few million more people can stop looking for work and cut the rate in half. Or better still, if everyone stops looking the unemployment rate will be zero – problem solved.

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