US Only Adds 126,000 Jobs in March 2015 … 245K Expected; Unemployment Rate Remains at 5.5% … Record Level of Americans Not in Labor Force
THE OTHER BARACK OBAMA LIE … THERE IS AN ECONOMIC RECOVERY IN THE US.
Economic recovery, what economic recovery? As reported at CNBC, economists expected nonfarm payrolls to rise 245,000 in March 2015 and the unemployment rate was to remain the same; however, the numbers came in much, much, much lower. In fact, only 126,000 jobs were created in March, the smallest gain since December 2013. OK, so how did only half the number of jobs come in as predicted and the unemployment rate did not go up, Hmm?
Do you really want to know who such fuzzy math can take place and a lying Obama and his minions can claim that 5.5% is a good thing when it is not? How about a record 93,175,000 Americans are not in the Labor Force!!!
The sputtering U.S. economy created just 126,000 jobs in March as bad weather, weak consumer spending and flailing corporate profits resulted in the worst report since December 2013.
Economists expected nonfarm payrolls to rise 245,000 in March, with the unemployment rate holding steady at 5.5 percent, according to Reuters. February’s numbers were revised lower to 264,000 from the initially reported 295,000, while January’s number fell from 239,000 to 201,000.
The total fell well short of the 269,000 average over the past year and was the first time in 14 months that the number dropped below 200,000.
However, the overall unemployment rate held steady at 5.5 percent, as a generational low in labor force participation helps keep the figure low. A separate gauge that includes those who have stopped looking for work as well those employed part-time for economic reasons—the underemployed—edged lower from 11 percent to 10.9 percent.
More Americans dropped out of the labor force last month, as the number of people not in the labor force hit another record high in March.
According to Friday’s Bureau of Labor Statics jobs data 93,175,000 Americans were not in the work force in March, an addition of 277,000 to February’s level of 92,898,000.
The BLS defines people not in the labor force as people ages 16 and older who are neither employed nor have they “made specific efforts to find employment sometime during the 4-week period ending with the reference week.”
The work force decline also corresponded with a drop in the labor force participation rate, wherein March’s rate of 62.7 percent matched earlier lows seen September and December 2014 but not seen before since in 1978. February’s participation rate was 62.8 percent.