Posted on 04/07/2015 6:39:30 AM PDT by SeekAndFind
How many times have we seen this? Every time the economy seems ready to pull out of its 2% growth rut and shift into a higher gear, the engine stalls. It's happening again in 2015.
Employers added a flimsy 126,000 jobs in March and with downward revisions from previous months, the job gains were half that high. The latest estimate for first-quarter GDP is below 1%, with one Federal Reserve Bank predicting closer to zero.
Businesses aren't buying into the robust expansion story that President Obama has been peddling in his "mission accomplished" victory tour across the country and neither are Americans on Main Street.
The March job gains were way down from 18 months prior, when the economy had been averaging more than 200,000 a month. Wages crept up a bit (0.3%), but hours worked fell back slightly.
The now-meaningless headline unemployment rate of 5.5% remains low only because of the still historically low 62.7% labor force participation rate. Working-age Americans aren't working, and an additional 100,000 dropped out in March.
The all-inclusive unemployment rate, which includes those who have stopped looking for a job plus those who can't find full-time work, is closer to 11%.
Once again, supporters of the administration's policies have blamed the lousy numbers on the weather. But that doesn't explain the big downward revisions in previous months.
It seems that every winter, we get poor jobs numbers that Obama apologists blame on the weather as if we've never experienced snowstorms in January, February and March. And this is the president who says that we have to fear global warming.
(Excerpt) Read more at news.investors.com ...
what ever happened to “focus like a laser beam”?
Except in the case of government jobs.
Just think of free enterprise as Alderaan. And the Obamunists as the death star.
Keynesian policies do not work..thump..Keynesian polices do not work..thump..Keynesian policies do not work..thump..Keynesian policies do not work..thump...
“mission accomplished”
93,000,000 people out of work you go Obama.
Could’ve been worse...
Turning America into a ghetto.
Time for another Obama Jobs Summit. They are looking for ideas.
Job creation is not a goal of Obamanomics.
Curious, I have seen absolutely nothing intended to help the Middle Class or the Economy by this administration. Everything they have done was to intentionally DESTROY AMERICAN CAPITALISM and specifically the Middle Class.
So what the hell is this reporter talking about??
Yeah, that Marxist economics has a proven 100% track record of abysmal failure -— it can even drag down American capitalism, as we observe in this example.
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