Friday, April 06, 2012

Horrible Employment Numbers

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More cooking of the books by the Obama regime:

U.S. payrolls rose far less than expected in March, keeping the door open for further monetary policy support from the Federal Reserve, even as the unemployment rate fell to a three-year low of 8.2 percent.

Employers added 120,000 jobs last month, the Labor Department said on Friday, the smallest increase since October.

Economists polled by Reuters had expected nonfarm employment to increase 203,000 and the unemployment rate to hold at 8.3 percent.

The slowdown in employment growth last month likely reflected the fading boost from unseasonably warm winter weather. It supported the caution on the labor market from Fed Chairman Ben Bernanke last week.
Obama will spin this as another reduction in the overall rate but at least 125,000 jobs are required to keep the unemployment rate steady and we didn't hit that so in the world of Obamanomics, the rate decreases.

I wonder how many people were excluded from the actually tally this time. The real unemployment rate would be somewhere above 10% if people weren't just dropped from the roles but this is an election year, Obama doesn't have the record of success to run on, his policies have been utter failures so he's forced to lie. He doesn't mind because everything he's done has been smoke and mirrors and he has his old reliable allies at the NY Times and WaPo to back him up.

I leave you with the graph that best epitomizes the lying of the last three years and just how poorly Obama's ideological plans have performed:

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