April’s payroll job creation news was even worse than expected, as hiring slowed to only 115,000 jobs, well below the consensus expectation. This marks the third consecutive year in which hiring has collapsed in the spring after showing some signs of life in the winter. Interestingly, not all news outlets are willing to continue covering for the Obama administration. The AP didnt try to sugarcoat the bad news:
WASHINGTON – 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 says employers added 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.
This is the most brutal statistic of all:
In April, the percentage of adults working or looking for work fell to the lowest level in more than 30 years.
One wonders: to which government programs will Julia turn now?
UPDATE: Mitt Romney wasted no time welcoming President Obama to Ohio by issuing a challenge on jobs and the economy. Romney wrote, in part:
Welcome to Ohio. I have a simple question for you: Where are the jobs?
As we enter the fourth year of your term, unemployment is over 8 percent and has been for your entire term. Nearly 23 million men and women are unemployed, underemployed or are no longer even looking for work. In the face of such challenges, many Americans have simply given up hope.
I recognize, of course, as do all Americans, that you inherited an economic crisis. But you’ve now had three years to turn things around. The record of those three years is clear. Your policies have failed, not only in Ohio, but across the nation. …
Mr. President, forgive me for being blunt, but when it comes to economic affairs, you’re out of your depth. Unlike you, I am not a career politician. Unlike you, I’ve spent more than two decades working in the private sector, starting new businesses and turning around failing ones. Undoing the damage you’ve done will be a daunting challenge. But I’ve learned a thing or two about how government policies can kill private investment and stifle job creation and I have a plan to get government out of the way.
Mr. President, while campaigning for the presidency nearly four years ago, you declared that you were “absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal.”
Mr. President, the American people are tired of the grandiose promises. And they are even more tired of the paltry results.
Mr. President, your promises now ring hollow. If you have brought new ideas to Ohio for creating jobs, why have you waited three years to unveil them? Have you suddenly had a revelation, or is it because 2012 is an election year? Whatever the case, what you are offering Ohio now is too little, too late. …
In the year I was born, unemployment was 3.9 percent. When I turned 21, it was 3.6 percent. We can do so much better than we have been doing.
But we need proper leadership.