(Can't believe this late in the day I'm the first to post this, but I couldn't find any other new thread talkin' about it ..)
"Only 115,000 jobs added in April; unemployment rate to 8.1 percent" Only 115,000 jobs added in April; unemployment rate to 8.1 percent | The Lookout - Yahoo! News.
Recovery? What recovery???Only 115,000 jobs were added to the economy in April, according to the Labor Department, nudging down the unemployment rate slightly to 8.1 percent.
The slight drop in the unemployment rate is due to the more than 300,000 unemployed people who gave up looking for work last month. At least 200,000 jobs would have had to be added last month just to keep up with the growth in the labor market. April's report missed expectations--economists predicted 163,000 jobs would be added.
So more than 300,000 had been looking for some time but couldn't find work, and thus depressed, they stopped looking for at least the past four weeks for jobs that just aren't there, and they get removed from the unemployment rate calculation. This happens all the time. Thus the ubiquitous basic unemployment rate we're fed in the news is a contrivance that is much, much higher in reality than fictitiously presented to the public.
Where are all the promised new jobs?
Where are "happy days are here again", I mean the non-sarcastic happy days?
When will someone actually do something about the mess we're in?
Left and right, the answer is never!!!