Obama March Unemployment Numbers Very Disappointing … Only120K Added, Expectations 205K … AlltIme High Record Number of Americans Not in Work Force
BIG SWING AND MISS FOR OBAMA’S REELECTION … LOOKS LIKE FED CHAIRMAN BEN BERNANKE WAS CORRECT IN HIS WARNINGS WHEN HE EXPRESSED DOUBTS THAT RECENT JOB GAINS COULD BE SUSTAINED.
Um, Missed It By How Much?
What was that sound? It was the unmistakable thud of a this mornings announcement that only a mere 102,000 jobs were added to the work force when all of the economic experts had predicted 205,000 jobs. A miss of epic proportions and so underwhelming that coupled with rising gas prices could spell doom for Obama.
88 MILLION AMERICANS NOT IN THE WORK FORCE … THE OBAMA LEGACY
CNBC reported that only 102,000 jobs were added in March 2012. However, the exerts had predicted that 205,000 were to be added. Oops, missed it by 100,00+. The unemployment rate dropped from 8.3% to 8.2%; however, it had nothing to do with job growth. It had everything to do with the fact that a record all-time high number of Americans are not in the labor force. As reported at Zero Hedge, the number of people not in the labor force is back to all time highs: 87,897,000.
U.S. payrolls rose far less than expected in March, keeping the door open for further monetary policy support from the Federal Reserve, even as the unemployment rate fell to a three-year low of 8.2 percent.
Employers added 120,000 jobs last month, the Labor Department said on Friday, the smallest increase since October.
Economists polled by Reuters had expected nonfarm employment to increase 203,000 and the unemployment rate to hold at 8.3 percent.
It would appear that Fed Chairman Bernanke was spot on in his analysis when he provided a warning last month when he stated payroll gains might slow as companies adjust their labor needs for a period of moderate growth. BINGO! Also, as stated by Weasel Zippers, the MSM will never tell you that there is now an All-time high of 88 million not in the work force. However, guess what Barack Obama and Democrats … the 88 million are aware they are not in the work force and will be voting in November 2012.