Posted on 05/06/2012 12:05:02 PM PDT by Red Steel
25 percent drop in the number of jobs added nationwide from March to April could spell trouble for President Barack Obama's re-election hopes as the economy now struggles to recover at a slower-than-expected pace, local experts said yesterday.
"Somebody has to figure out how to get us to the point where we're creating 300,000 jobs a month. Obama policy is never going to accomplish it," David Tuerck, executive director of the Beacon Hill Institute at Suffolk University, told the Herald. "We have to look at what he's doing and pretty much reverse it all."
The economy added just 115,000 jobs in April, compared to 154,000 jobs in March and an average of 252,000 jobs per month from December through February, according to the U.S. Bureau of Labor Statistics. Though the country's unemployment rate dipped to a three-year low of 8.1 percent last month, the number does not include discouraged people who have stopped searching for work.
A total of 12.5 million people nationwide were unemployed last month. Average hourly earnings rose a penny to $23.38.
Appearing on "Fox and Friends" yesterday, presidential contender Mitt Romney said April's collective added job number was 77 percent lower than his own expectations for economic growth.
"We should be seeing numbers in the 500,000 jobs created per month. This is way, way, way off from what should happen in a normal recovery," Romney said. "Clearly the American people are wondering why this recovery isn't happening faster, why it's taking years and years for the recovery to occur and we seem to be slowing down, not speeding up."
(Excerpt) Read more at chicagotribune.com ...
“Well it IS both. He’s fowling up the economy through lefty policy, and the economy in turn reflects badly on him.”
You’ve just defined the Marxist Do Loop!! They still think that the problem isn’t philosophical, but rather just poor execution. They just haven’t found the right person to manage the implementation!
Right you are! 0bama’s core constituents would support him if half the cities in America were nuked.
Must have been the author's oversight because I don't believe Bush will be completely removed from the blame game until well into Hillary's second term around 2022..............if then!
Obama and his team know his policies are not helpful to the economy.
They do not want an improving economy, because that would make the ultimate goal of class warfare redistribution that much more difficult to implement.
The unemployment rate number (U3?) is officially meaningless.
Every time the number of jobs decreases, simply artificially reduce the number of job seakers accordingly,
and keep the “rate” steady at 8%, so that in October, you can say it’s 7.9[9999999].
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