Friday, May 4, 2012

Obamanomics: rate falls as joblessness increases?

How long are they gonna keep these sham figures of an 'official' unemployment rate going? Well, it looks like the AP has finally wised up, and the mystery has been revealed about the Obama administration's bogus calculations, as if you already didn't know. Oh, and speaking of things you already know, the answer to the initial question is through the election.

Associated Press: U.S. employers pulled back on hiring in April for the second straight month, a sobering reminder that the economy remains weak. The unemployment rate fell to 8.1 percent, but only because more people gave up looking for work.

The Labor Department said Friday that the economy added just 115,000 jobs in April. That's below March's upwardly revised 154,000 jobs and far fewer than the pace from earlier this year.

The unemployment rate has fallen a full percentage point since August to a three-year low. But last month's decline was not due to job growth. The government only counts people as unemployed if they are actively looking for work.

In April, the percentage of adults working or looking for work fell to the lowest level in more than 30 years.

A revised report stated it even more starkly: "Obama is likely to face voters in November with the highest unemployment rate of any U.S. president since World War II." Add this to high gas prices, home ownership at a decade-low , anemic GDP growth, higher taxes down the pike, while government dependence continues to grow...what a recovery. Leave it to Levin to clue Romney in to this.