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Jobless Down .1% Because People Giving Up

From a suddenly fazed Associated Press:

US economy adds 120K jobs, jobless rate at 8.2 pct

April 6, 2012

WASHINGTON (AP) — The job market slowed in March as companies hit the brakes on hiring amid uncertainty about the economy’s growth prospects. The unemployment rate dipped, but mostly because more Americans stopped looking for work.

What a shocking admission from the AP. And they even put it in the first paragraph. (Instead of the last, as they usually do, if they mention it at all.)

The Labor Department says the economy added 120,000 jobs in March, down from more than 200,000 in each of the previous three months.

The unemployment rate fell to 8.2 percent, the lowest since January 2009. But the rate dropped because fewer people searched for jobs. The official unemployment tally only includes those seeking work.

All of which just shows how perverse the government’s way of measuring is, anyway. If you are out of a job but give up looking, you become magically employed.

They need to come up with a new metric.

Despite the pullback in March, the economy has added 858,000 jobs since December — the best four months of hiring in two years.

And yet, even by the AP’s own admission, the only thing that has driven down the unemployment rate by a measly .3% is the government’s sleight of hand.

Slower job growth could threaten a recent rise in consumer confidence and dent investors’ enthusiasm for stocks. It also could prove a setback for President Barack Obama’s re-election hopes

And, after all, that is all that matters.

Retailers seemed hurt most in March. They shed nearly 34,000 jobs in March after cutting nearly 29,000 in February. Temporary help firms dropped almost 8,000 — a potentially bad sign for the job market because companies often hire temp workers before adding full timers

What’s this? We were just told by an earlier AP story that everything was coming up roses.

Government hiring was little changed in March, a positive sign after months of job cuts and the state and local level

Only the news media and the rest of the Democrat Party would see this as a "positive sign."

Economists have worried all along that job growth couldn’t sustain the strong December-to-February pace

Really? Well, this is the first we have heard of it from the AP. Ever since Obama was elected we have been told by the AP and Reuters that prosperity was just around the corner.

But, to be fair, who could expect that the economy could sustain such a breakneck pace.

Meanwhile, we have this from Reuters:

White House advisers: Economy making progress

April 6, 2012

WASHINGTON (Reuters) – The U.S. economy is continuing to recover but still has a long way to go, top White House advisers said on Friday, after the Labor Department released weaker-than-expected jobs figures.

"What we are seeing in the economy right now is that we are making progress, but we still have a long way to go," White House economic adviser Gene Sperling said.

But he faulted Republicans in Congress for getting in the way of employment creation. "The partisanship … has blocked us from having a stronger job market," he said

My God, they are shameless.

It’s almost a sickness the way they blame everyone but themselves. In fact, you can strike the ‘almost.’

This article was posted by Steve on Friday, April 6th, 2012. Comments are currently closed.

7 Responses to “Jobless Down .1% Because People Giving Up”

  1. Tater Salad says:

    Americans giving up looking for work……….up!
    Americans paying more for gasoline………..up!
    Americans wanting to replace the President..up!

    Yet, this moron gives a known terrorist organization, The Muslim Brotherhood in Egypt a whopping $1.5 Billion of our money.

  2. River0 says:

    High energy prices strangle economic activity. Everyone knows this.

    The last time gas prices got this high was in summer of ’08, and it caused the economic meltdown.

    Obummer’s stated policy is high energy prices, to make us “go green”, like Europe. He’s been saying this since ’06 .

    Hey Europe, how’s that green policy workin’ out for ya?

    He’s on record as saying coal producers/users will “go bankrupt” when he gains power.

    He doesn’t like America as it is. He wants change.

    Our nation’s destruction is his stated goal. This is good change to him.

    How stupid has our nation become? We’re about to find out in November.

  3. BannedbytheTaliban says:

    Would it be too cynical of me to assume that Harry Reid and the Senate Democrats passed the 99-week extension to unemployment benefits knowing that a vast majority of people would run out of said benefits in time to lower the unemployment rate for Obama’s reelection? And would it be even more cynical of me to think the Dems passed the 99-week extension, an outrageous length of time, knowing they could excoriate the GOP for not seeking to extend it and gin up their base?

  4. mr_bill says:

    Didn’t this happen last year as well? The first quarter showed some hiring and as soon as spring came around, the unemployment rate went up .2%. Isn’t this the same thing that iced the “recovery summer” in 2010? Why do these people act like its new every time it happens?

    • Rusty Shackleford says:

      Pretty soon, when no one has any jobs and there aren’t any to be had, unemployment will be 0%, right? Now that would be a big achievement.

    • mr_bill says:

      Good point, Rusty. We’ll all have “more flexibility” if nerobama has his way.

  5. canary says:

    U.S. Military Recruiters are benefiting from recession and jobless.

    note this is 2010 statistics

    and in other articles

    In 2009 U.S. Military Recruits hit an all time high record of enlistees.

    And recently, lowest standards ever for enlistees entering Military

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