Unemployment rate drops to 8.1% … WHAT A LIE AND POLITICAL BUNCH OF BS THIS IS.
A meager 115,000 jobs were added by the Obama economic recovery, missing the expected 170,000 jobs that the experts had foretasted. What a joke the unemployment rate has become. This is nothing more than a fabricated Obama economic aid for reelection. Look for the rate to go below 8% in the coming months even if we lose jobs in a month rather than add them. The fix is in to fabricate the numbers as a positive for Obama even though millions of Americans are out of work and either unemployed or underemployed. Obviously more people are dropping out of the job market, that is why the rate is going down not anything that Barack Obama is doing for job growth.
THE EMPLOYMENT SITUATION — APRIL 2012
Nonfarm payroll employment rose by 115,000 in April, and the unemployment
rate was little changed at 8.1 percent, the U.S. Bureau of Labor Statistics
reported today. Employment increased in professional and business services,
retail trade, and health care, but declined in transportation and warehousing.
Household Survey Data
Both the number of unemployed persons (12.5 million) and the unemployment
rate (8.1 percent) changed little in April. (See table A-1.)
THE TRUTH ,,, 522,000 DROPPED OUT OF THE WORK FORCE ALONE IN APRIL 2012. THE LOWEST PARTICIPATION RATE IN 30 YEARS!!!
A slowdown in hiring as corporate optimism cools may restrain the wage growth needed to fuel consumer spending, which accounts for about 70 percent of the economy. Federal Reserve policy makers view unemployment as “elevated” and plan to hold borrowing costs low through late 2014.
The unemployment rate was forecast to hold at 8.2 percent, according to the survey median. Estimates in the Bloomberg survey ranged from 8.1 percent to 8.3 percent. Unemployment has exceeded 8 percent since February 2009, the longest such stretch since monthly records began in 1948.
The participation rate, which indicates the share of working-age people in the labor force, fell to 63.6 percent, the lowest since December 1981, from 63.8 percent.
God forbid Americans are ever told the truth anymore.