Unemployment rate at 8.1%, only 115K jobs added, participation rate shrinks again to new low

posted at 8:31 am on May 4, 2012 by Ed Morrissey

The April jobs report fell short of analysts expectations, as only 115,000 jobs were added.  Consensus expectations had been in the 165K-170K range, which still would have been below the rate jobs were added in February, January, and December.  While the jobless rate dropped slightly, the number of jobs added came in short of March’s disappointing level:

Nonfarm payroll employment rose by 115,000 in April, and the unemployment rate was little changed at 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, retail trade, and health care, but declined in transportation and warehousing.

Both the number of unemployed persons (12.5 million) and the unemployment rate (8.1 percent) changed little in April. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (7.5 percent), adult women (7.4 percent), teenagers (24.9 percent), whites (7.4 percent), and Hispanics (10.3 percent) showed little or no change in April, while the rate for blacks (13.0 percent) declined over the month. The jobless rate for Asians was 5.2 percent in April (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over) was little changed at 5.1 million in April. These individuals made up 41.3 percent of the unemployed. Over the year, the number of long-term unemployed has fallen by 759,000. (See table A-12.)

So how did the jobless rate drop?  The same way it’s been dropping all along — people exiting the workforce:

The civilian labor force participation rate declined in April to 63.6 percent, while the employment-population ratio, at 58.4 percent, changed little.

That’s a new 30-year low in the participation rate.  Here’s the chart from the BLS for the last 30 years:

Note that the biggest and steepest plunge has taken place since the Obama recovery started in June 2009.

The U-6 rate held steady in April nonetheless at 14.5%, even with the increased exodus of workers from the workforce.

Update: CNBC notes that the actual employment level in the US fell by 169,000:

April’s job report lived up to muted expectations, with the economy creating a meager 115,000 jobs during the month as the unemployment rate fell to 8.1 percent. …

Though the headline number indicated job creation, the total employment level for the month actually fell 169,000.

“This remains a weak economy, and the job counts in March and April — which have come in at considerably below 200,000 per month — may perhaps continue right through the summer,” said Kathy Bostjancic, director of macroeconomic analysis at The Conference Board.

Wall Street economists had been expecting the Bureau of Labor Statistics report to show 170,000 new jobs created and the unemployment rate   holding steady at 8.2 percent.

That weakness will keep jobs and the economy at the top of the list for voter concerns, and keep Obama and his campaign on their mission to talk about any other distraction they can find from it.

Update II: Zero Hedge notes that 522,000 people left the workforce in April, or more than four times the number of net jobs gained in the BLS report.

Update III: Yes, but what does Reuters say?  The rose-colored-glasses wire service calls this a “mixed” report:

Employers decreased hiring for the second straight month in April but the unemployment rate still fell to 8.1 percent, giving mixed messages about the economy’s strength ahead of President Barack Obama’s November re-election bid.

Employers added 115,000 workers to their payrolls last month, the Labor Department said on Friday.

The reading keeps fears alive that the U.S. economy is losing momentum and dampens hopes that a stretch of strong winter hiring signaled a turning point for the recovery.

The unemployment rate ticked a tenth of a point lower to a three-year low, as people left the work force. The jobless rate is derived from a separate survey of households, which showed a drop in the number of jobs in April.

So what was the “mixed” part?  The BLS adjusted the jobs gains numbers in February and March upward, but you have to love how Reuters frames it:

Still, the government revised upward its initial estimates for payroll growth in February and March by a combined 53,000. That left the six-month average of job growth at 197,000, nearly exactly where it would have been had April job growth come in as expected at 170,000.

But, er … it didn’t.  So what does that tell us about the economy and jobs growth?  It ain’t a mixed message.


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…to be revised!

KOOLAID2 on May 4, 2012 at 8:37 AM

We all know the true number is between 10 and 15%. Take that truth teams.

Amazingoly on May 4, 2012 at 8:37 AM

the lsm will spin this for dear leader….

blame anything but dear leader’s failed policies

cmsinaz on May 4, 2012 at 8:37 AM

…wait for the MSM’s help!

KOOLAID2 on May 4, 2012 at 8:37 AM

http://data.bls.gov/timeseries/LNS12300000

Picture. 1000 words, etc.

topdog on May 4, 2012 at 8:38 AM

The business suit on MSNBC is LIVE saying “This is bad. Bad. Bad. Bad.” Seems like a nice guy, will probably be fired by this afternoon.

Marcus on May 4, 2012 at 8:38 AM

wow morning joe not happy campers…

cmsinaz on May 4, 2012 at 8:38 AM

…I’s peeking over your shoulder again!

KOOLAID2 on May 4, 2012 at 8:38 AM

Marcus on May 4, 2012 at 8:38 AM

indeed

cmsinaz on May 4, 2012 at 8:40 AM

Quick! We need another War on _______, stat!

Punchenko on May 4, 2012 at 8:40 AM

The same way it’s been dropping all along — people exiting the workforce:

those are not the jobs you are looking for…….*waves hand*

ted c on May 4, 2012 at 8:40 AM

It’ all about efficiency in the workplace….
Doin’ more with less..

I hope Obama works that into his speech today with the graduating High School seniors.

Electrongod on May 4, 2012 at 8:40 AM

wow morning joe not happy campers…

cmsinaz on May 4, 2012 at 8:38 AM

Yep, seems like CNBC is the one house of sanity at NBC/MSLSD. I like this CNBC guy: “You can go ahead and yell at me……”

Marcus on May 4, 2012 at 8:40 AM

Unemployment Rate = Magic Show

lm10001 on May 4, 2012 at 8:40 AM

By the end of Obama’s second term unemployment will be 0%. The media will assure it. Fifty million people won’t have jobs, but they’ll still have hope or something.

JammieWearingFool on May 4, 2012 at 8:41 AM

We will see the “unemployment number” just below the magic 8% before the election and no major news organization will point out that fewer people are working today than there were 30 years ago.

It’s almost like they are rooting for one side over the other.

Mord on May 4, 2012 at 8:41 AM

Punchenko on May 4, 2012 at 8:40 AM

for sure….DEFLECTION big time

cmsinaz on May 4, 2012 at 8:41 AM

This has to be the only time in history somebody’s numbers get better the more they fail.

Southernblogger on May 4, 2012 at 8:41 AM

Marcus on May 4, 2012 at 8:40 AM

2nd that

cmsinaz on May 4, 2012 at 8:41 AM

Worse than last month(albeit only slightly). So March wasn’t a momentary blip. It could be the start of a new trend.

Doughboy on May 4, 2012 at 8:42 AM

It’s almost like they are rooting for one side over the other.

Mord on May 4, 2012 at 8:41 AM

I just laughed out loud at my desk. Good one!

gophergirl on May 4, 2012 at 8:42 AM

Oh FFS, I knew it. How could I not know it. It’s the same story we’ve been hearing for months. Hiring is ridiculously weak, even lower than weak expectations, but the number drops because it’s so bad people aren’t even trying. So all the MSM needs to do is scream the “good news” that we’re inching closer to 8% and under.

This election will be won or lost based on Romney and the conservative movement’s ability to get people to understand unemployment data beyond looking a just that topline number. Voters are more wary of it than they were a year ago, but there is still work to do.

Gingotts on May 4, 2012 at 8:43 AM

They’re counting all the pencil sellers and windshield washers as employed!

tim c on May 4, 2012 at 8:44 AM

Lies, damned lies and statistics…

catmman on May 4, 2012 at 8:44 AM

When the unemployeed start going all John Galt, you got a problem.

Jabberwock on May 4, 2012 at 8:45 AM

Wow. That seems… unexpected.

UnderstandingisPower on May 4, 2012 at 8:46 AM

Looking at the chart…..
It’s much easier to move FORWARD when you have gravity on your side.

Electrongod on May 4, 2012 at 8:47 AM

By November, we’ll be down to 5% unemployment with no one working at all.

This is all just battlefield prep by the MSM anyway. A few ticks down for a few months, then they have some wiggle room to roll it back up and the numbers don’t look so bad.

catmman on May 4, 2012 at 8:47 AM

There are 100 million working-age Americans without jobs.

http://theeconomiccollapseblog.com/archives/there-are-100-million-working-age-americans-that-do-not-have-jobs

Defenestratus on May 4, 2012 at 8:48 AM

http://data.bls.gov/timeseries/LNS12300000

Picture. 1000 words, etc.

topdog on May 4, 2012 at 8:38 AM

Staggering.

CTSherman on May 4, 2012 at 8:48 AM

The business suit on MSNBC is LIVE saying “This is bad. Bad. Bad. Bad.” Seems like a nice guy, will probably be fired by this afternoon.

Marcus on May 4, 2012 at 8:38 AM

To be followed by “the super amazing Obama recovery!!” in about early October. Honestly, I think it’s all part of a plan. Bad news, followed by bad news, followed by bad news…followed by the super amazing recovery — just in time for the election. Yup. I am that paranoid about this administration’s corruption.

Rational Thought on May 4, 2012 at 8:48 AM

Be wary . . . Obama’s labor department cronies will be conjuring up false positives for the economy from now until November.

rplat on May 4, 2012 at 8:48 AM

But… but… but… he got Bin Laden! BIN LADEN! He also has deep thoughts — brilliant thoughts! — on T.S. Eliot!

Punchenko on May 4, 2012 at 8:49 AM

7.0% unemployment by November!

MagisterGreen on May 4, 2012 at 8:50 AM

Note that the biggest and steepest plunge has taken place since the Obama recovery “recovery” started in June 2009.

FIFY (scare quotes added).

topdog on May 4, 2012 at 8:50 AM

Ahhh…..do you smell the Recovery Summer, part 2 talking points coming down the pike?

search4truth on May 4, 2012 at 8:52 AM

This calls for a celebration by Obama..
….Oh wait….
It’s Sinko Duh Mayo tomorrow.

Electrongod on May 4, 2012 at 8:53 AM

Well if a couple more million decide to stop looking for work Obamas unemployment rate will be 0!

sandee on May 4, 2012 at 8:53 AM

Lower than expected, but they went back and revised February and March up sharply, which further indicates that this may be a weather-related shift and not a downward trend. We’ll know more this Summer; if the economy is losing jobs this Summer, or creeping along at the +120-100K level, the slowdown is real. But if this is weather related, we should return to the +200-150K level soon. Next three months will be interesting …

TouchdownBuddha on May 4, 2012 at 8:55 AM

“Tax the rich…
Don’t touch my benefits…”

If I only had benefits….or a job…

Electrongod on May 4, 2012 at 8:56 AM

By the end of Obama’s second term unemployment will be 0%. The media will assure it. Fifty million people won’t have jobs, but they’ll still have hope or something.

JammieWearingFool on May 4, 2012 at 8:41 AM

hahaha….thanks, man. I needed that laugh.

budfox on May 4, 2012 at 8:56 AM

only 115K jobs added

Adding new jobs is sooo yesterday. Counting new jobs is a worn out misdirection from our failed capitalist past. Who needs new jobs when the labor force “participation rate” has room left yet to go down?

petefrt on May 4, 2012 at 8:56 AM

Obama Administration: 7.9% or bust!

Rovin on May 4, 2012 at 8:56 AM

It must be nice for the administration to be able to just make up numbers and use fantasy math to make the unemployment report less damaging to itself and to be secure in the knowledge that a willing media will avoid pointing out their delusional numbers.

Unfortunately for the administration, people who live in the land of real math, you know where numbers actually mean stuff, have to live with the fact that they’ve lost their jobs, can’t find new jobs, and have given up on the whole damn thing and resigned themselves to living a meager hand to mouth existence until things get better.

Somehow, I don’t think the people who dropped out of the labor force, the ones Obama pretends don’t exist, are going to be lining up at the polls to cast their vote for Teh One.

dczombie on May 4, 2012 at 8:56 AM

April’s job report lived up to muted expectations

Living up to muted expectations is pretty easy to do under Obama. You expect the worst and that’s what you get.

Go RBNY on May 4, 2012 at 8:57 AM

Anyone who calls this a “good” or “mixed” report, is in the bag for Obama.

BigGator5 on May 4, 2012 at 8:57 AM

Story already being spun in some quarters — the New York Daily News’ headline is “U.S. unemployment drops to 8.1%“. Owner Mort Zuckerman hay have given up on Obama, but there are still a lot of bitter clingers in the newsroom.

(Also, on a side note — if when Team Obama’s folks at the Labor Department are able to adjust the numbers to finally get the rate below 8 percent before Election Day, you get the feeling the big media is going to treat it as on par with, say, V-J Day back in 1945. They’ve gone with the mantra that “No president has ever been re-elected with the unemployment rate at 8 percent or higher” for so long, they’re trying to convince voters that the opposite is also true — that if the rate somehow comes in at 7.9 percent on the first Friday of November, Obama can’t is not allowed to lose the following Tuesday.)

jon1979 on May 4, 2012 at 8:57 AM

It’s almost like they are rooting for one side over the other.

Mord on May 4, 2012 at 8:41 AM

That became apparent when the unemployment rate was less than 5%, aka full employment, while George Bush was in office and we were incessantly told by the dems and media that it was the worst economy in a generation if not forever.

Angineer on May 4, 2012 at 8:57 AM

…oh oh! …but O Bin Laden couldn’t watch for this report on CNN or MSLSD!…no glee in Pack-e-stan!

KOOLAID2 on May 4, 2012 at 8:58 AM

Rational Thought on May 4, 2012 at 8:48 AM

Nah. Any recovery has to start now. By the time September or October rolls around people will have made up their minds. Things are gonna have to turn around strongly in the next month or two, otherwise he won’t have a chance.

I think he’s running out of distractions too. He’s used a lot of ammunition with the war on women, dogs, polygamy, and bin Laden in the last month or two. I’m not really sure what he has left. He’s going on about immigration this week. What’s next, that Romney has money? Most people already know that…

PetecminMd on May 4, 2012 at 8:59 AM

WWJuliaD with that number?

MNHawk on May 4, 2012 at 8:59 AM

Zero Hedge has been saying for months that BLS will make the work force participation rate whatever it needs to be to show unemployment below 8% before the election. As sad and pathetic as BLS is, maybe we can turn this into a game? Who can guess how low BLS will make the participation rate next time? 64.1%? 63.9? Whoever gets closest gets to take a shot of tequila.

olesparkie on May 4, 2012 at 8:59 AM

Somehow, I don’t think the people who dropped out of the labor force, the ones Obama pretends don’t exist, are going to be lining up at the polls to cast their vote for Teh One.

dczombie on May 4, 2012 at 8:56 AM

How about sometime early in August everyone who has been out of the workforce head on down to the unemployment office and REFILE!

Rovin on May 4, 2012 at 8:59 AM

Dws to throw out the 700k jobs lost under W and the 4 million jobs created under dear leader

They’ve got nothing else

cmsinaz on May 4, 2012 at 9:00 AM

dczombie on May 4, 2012 at 8:56 AM

There’s no inflation problem either… unless you count food and energy.

Unemployment stats. Inflation stats. Smoke and mirrors.

petefrt on May 4, 2012 at 9:00 AM

What sickens me, is the MSM is going to drag this thing to 7.8 or 7.7 by Nov, and offer no reason as to why.

I’m still amazed at how NYT played their hand a few weeks ago. They knew all this shitty data was coming, and have probably seen a summer projection.

Afghan/UBL trip makes perfect sense, now. Barry knew the damper was coming.

budfox on May 4, 2012 at 9:00 AM

But yet the unemployment rate went down. *Gosh*, I wonder how that happened? *coughriggednumberscough*

WannabeAnglican on May 4, 2012 at 9:01 AM

We are all Daniel Suelo.

Fallon on May 4, 2012 at 9:01 AM

TouchdownBuddha on May 4, 2012 at 8:55 AM

Correct me if I’m wrong but were you not the one that was saying the same thing a month or two ago when we had 70-80 degree weather in January, February and March? Stick to handicapping football.

Even Michael Bloomberg is talking anbout people giving up looking for work. Take a look at topdog’s link http://data.bls.gov/timeseries/LNS12300000 and keep telling yourself this is weather related.

CTSherman on May 4, 2012 at 9:02 AM

522,000 people dropped out of the workforce in April! 8.1% my arse.

Rovin on May 4, 2012 at 9:03 AM

We’ll know more this Summer; if the economy is losing jobs this Summer, or creeping along at the +120-100K level, the slowdown is real. But if this is weather related, we should return to the +200-150K level soon.

TouchdownBuddha on May 4, 2012 at 8:55 AM

Hey, good luck with that.

Go RBNY on May 4, 2012 at 9:03 AM

You could knock me over with a feather at the gloomy headlines at Huffington Post. They are not being Obama lickers.

Marcus on May 4, 2012 at 9:04 AM

By the time we get to November, the U.S. workforce will be defined by the MSM as everyone who works on the Obama campaign, and there will be 100% employment (at least until after election day).

AZCoyote on May 4, 2012 at 9:04 AM

By the end of Obama’s second term unemployment will be 0%. The media will assure it. Fifty million people won’t have jobs, but they’ll still have hope or something.

JammieWearingFool on May 4, 2012 at 8:41 AM

Nope, won’t even have “hope” by that point. But they’ll sure as hell have all the “change” they could ask for (not the coin-of-the-realm kind, either).

bofh on May 4, 2012 at 9:04 AM

He got Julia a job didn’t he?

docflash on May 4, 2012 at 9:04 AM

Fewer workers — fewer tax payers — higher deficit — more debt — snowball rolls downhill!

rebuzz on May 4, 2012 at 9:05 AM

For example, the Ministry of Plenty’s forecast had estimated the output of boots for the quarter at one-hundred-and-forty-five million pairs. The actual output was given as sixty-two millions. Winston, however, in rewriting the forecast, marked the figure down to fifty-seven millions, so as to allow for the usual claim that the quota had been overfulfilled. In any case, sixty-two millions was no nearer the truth than fifty-seven millions, or than one-hundred-and-forty-five millions. Very likely no boots had been produced at all. Likelier still, nobody knew how many had been produced, much less cared. All one knew was that every quarter astronomical numbers of boots were produced on paper, while perhaps half the population of Oceania went barefoot. And so it was with every class of recorded fact, great or small. Everything faded away into a shadow-world in which, finally, even the date of the year had become uncertain.

Once again I say … Orwell was only off by a few decades.

Lost in Jersey on May 4, 2012 at 9:05 AM

Romney/RNC need to start enforcing the message that “we were told unemployment would go up when things got better, because people would start re-entering the workforce. What does it mean, if it never went up but keeps going down”?

budfox on May 4, 2012 at 9:05 AM

No wonder Obama went to Afghanistan to “spike the football.”

He knew the jobs report was going to be lousy.

sentinelrules on May 4, 2012 at 9:06 AM

So, I just did a Google search for “Bureau of Labor Statistics head” to see who’s running the show over at the BLS these days.

The first result:

Chefs and Head Cooks – Bureau of Labor Statistics

I nearly fell off my chair.

steebo77 on May 4, 2012 at 9:07 AM

Don’t worry guys. Mitt Romney is here to save us.

Notorious GOP on May 4, 2012 at 9:07 AM

Ditto Rovin @9:03

cmsinaz on May 4, 2012 at 9:08 AM

How about sometime early in August everyone who has been out of the workforce head on down to the unemployment office and REFILE!

Rovin on May 4, 2012 at 8:59 AM

Great minds .. my first thought, this morning.

pambi on May 4, 2012 at 9:09 AM

You have to wonder if the average voter will see beyond the headline number.

tbrickert on May 4, 2012 at 9:09 AM

“That’ll give ‘em more time to wait in the bread lines.”

– Slow Joe Biden

/s

viking01 on May 4, 2012 at 9:10 AM

The unemployment rate doesn’t mean a thing anymore.

changer1701 on May 4, 2012 at 9:10 AM

Something I keep missing…how are those leaving the workforce counted? (how is that number derived?)

Larr
USN – Ret

Larr on May 4, 2012 at 9:11 AM

Don’t forget that the DNC will be hiring GOTV folks from the unenployment lines, soon.
Of course those will be counted as jobs created !
Count on it.

pambi on May 4, 2012 at 9:12 AM

Marcus, took a peek at huffpo…holy cow, no spinning there

cmsinaz on May 4, 2012 at 9:12 AM

So, I just did a Google search for “Bureau of Labor Statistics head” to see who’s running the show over at the BLS these days.

The first result:

Chefs and Head Cooks – Bureau of Labor Statistics

I nearly fell off my chair.

steebo77 on May 4, 2012 at 9:07 AM

I’m surprised they didn’t link you to Cartagena

Rovin on May 4, 2012 at 9:13 AM

You have to wonder if the average voter will see beyond the headline number.

tbrickert on May 4, 2012 at 9:09 AM

The average voter is using legacy media as a resource less every day.

Go RBNY on May 4, 2012 at 9:13 AM

You gotta love the way the MSM spins everything. I think if every business in america shut down they would tell that is great thing because now you will hve more time to spend with your family

paulrtaylor on May 4, 2012 at 9:14 AM

If Republicans want to explain this ‘unemployment drops as participation rate declines’ concept, Paul Ryan needs to go on national TV and explain how denominators and numerators work.Until then people are going to assume that Obama sprinkled magic dust on the unemployment rate….as they sit home during the day eating cheezie-poofs, collecting a check.

shannon76 on May 4, 2012 at 9:14 AM

U.S. Bureau of Labor Statistics is an Orwellian fraud.

The Obama Regime is deligitimizing the institutions of our government by turning them into transparent propaganda arms.

This is becoming very dangerous.

forest on May 4, 2012 at 9:14 AM

And, you know what’s creepy about all of this?

They know that the more people are unable to request unemployment insurance, the rosier the numbers will look. Therefore, they would never even attempt to help those who have gone off the grid. No extensions of unemployment. No help.

Even if you disagree with unemployment insurance extensions, this is cold.

This is the filth that is politics as usual.

You just know they are calculating just how many will fall off the grid come November, and how they can sweeten the “look” of the unemployment number.

sick

so-notbuyingit on May 4, 2012 at 9:14 AM

A chart of people collecting food stamps and social security disability is the inverse of the labor force participation rate the last 3 years. Mission accomplished by team Obama.

Wigglesworth on May 4, 2012 at 9:15 AM

NYT Headline:


US Added Only 115000 Jobs in April; Rate Is 8.1%

Not even they can spin this positively.

angryed on May 4, 2012 at 9:15 AM

On the street people don’t look at these unemployment rate numbers. They look at all the people they know that are out of work, looking for work, afraid they are going to be out of work and know the economy under the Obama is not going good.

albill on May 4, 2012 at 9:15 AM

I think there is a collusion among corporations not to hire until this a$$clown is hopefully gone. They know their companies can’t survive four more of this.

msupertas on May 4, 2012 at 9:15 AM

That’s a new 30-year low in the participation rate.

Unprecedented!

socalcon on May 4, 2012 at 9:17 AM

If Republicans want to explain this ‘unemployment drops as participation rate declines’ concept, Paul Ryan needs to go on national TV and explain how denominators and numerators work.Until then people are going to assume that Obama sprinkled magic dust on the unemployment rate….as they sit home during the day eating cheezie-poofs, collecting a check.

shannon76 on May 4, 2012 at 9:14 AM

Republicans have always been horrible at messaging.

angryed on May 4, 2012 at 9:18 AM

So, I just did a Google search for “Bureau of Labor Statistics head” to see who’s running the show over at the BLS these days.

The first result:

Chefs and Head Cooks – Bureau of Labor Statistics

I nearly fell off my chair.

steebo77 on May 4, 2012 at 9:07 AM

Google has become so corrupt, as Wiki has.

I’m using Bing exclusively, but I wish there was even an alternative for that.

so-notbuyingit on May 4, 2012 at 9:18 AM

Hmm, the more I think about it the more I believe that the Obama administration is low balling the jobs created each month (not by much) so that when reports come out like this they can point to the upward revision in the numbers.

They do the same thing with the weekly initial unemployment claims, only in reverse. They low ball the initial claims and increase the revised claims by a couple thousand so that they can say the number is “decreasing” each week. There is a definite trend of them doing this. Link

MFn G I M P on May 4, 2012 at 9:18 AM

http://data.bls.gov/timeseries/LNS12300000

Picture. 1000 words, etc.

topdog on May 4, 2012 at 8:38 AM

Staggering.

CTSherman on May 4, 2012 at 8:48 AM

How much of that decline is due to retirement and early retirement of baby boomers, the oldest of which are now 66.

Baby Boomers = born between 1946-1965.

Dasher on May 4, 2012 at 9:18 AM

Zero Hedge notes that 522,000 people left the workforce in April, or more than four times the number of net jobs gained in the BLS report.

…an ongoing disaster while Obama sings on late night TV.

Baxter Greene on May 4, 2012 at 9:19 AM

We’ve spent about 6 trillion dollars in the past 3.5 years and we don’t have a damn thing to show for it(except for all the debt, which we’ll be paying off for decades.)

eyedoc on May 4, 2012 at 9:19 AM

keep telling yourself this is weather related.

CTSherman on May 4, 2012 at 9:02 AM

At age 46, Julia drops out of labor force and collects disability payments. Attributes her business failure and disability on global warming.

petefrt on May 4, 2012 at 9:19 AM

Hmm, the more I think about it the more I believe that the Obama administration is low balling the jobs created each month (not by much) so that when reports come out like this they can point to the upward revision in the numbers.

They do the same thing with the weekly initial unemployment claims, only in reverse. They low ball the initial claims and increase the revised claims by a couple thousand so that they can say the number is “decreasing” each week. There is a definite trend of them doing this.
Link

MFn G I M P on May 4, 2012 at 9:20 AM

Something I keep missing…how are those leaving the workforce counted? (how is that number derived?)

Larr
USN – Ret

Larr on May 4, 2012 at 9:11 AM

“The jobless rate is derived from a separate survey of households, which showed a drop in the number of jobs in April.”

shannon76 on May 4, 2012 at 9:20 AM

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