Did You Know...

   

Size of labor force drops by half million in April, unemployment rate down slightly to 8.1%

Share
By Doug Powers  •  May 4, 2012 10:18 AM

**Written by Doug Powers

Open for discussion while we put on a hard hat and watch out for a Friday afternoon document drop of some sort, here’s the latest jobs data:

The nation’s economy added 115,00 jobs in April while the unemployment rate dropped one-tenth of a point to 8.1 percent.

The figures are lower than a month ago and were also below what many analysts had expected.

They will add to the sense that the labor market is cooling down after months of larger growth, and come as unwelcome news for President Obama, who is formally launching his reelection campaign on Friday with rallies in Virginia and Ohio.

The nation’s labor participation rate dropped again to 63.6 percent, suggesting workers continue to leave the labor force because their job prospects are grim. The report said the employment-population ratio is 58.4 percent.

The A.P. is doing their best spinning by saying unemployment will probably dip below 8 percent by Election Day. Maybe it will, but contributing big time to the drop is the fact that the labor force participation rate is now the lowest it has been in over 30 years. In April, the number of people exiting the labor force — and therefore not counted as “unemployed” in the government’s statistics — rose by 522,000.

Here’s the labor force participation rate over the last 30 years (h/t Ed Morrissey). If you look closely you’ll see Julia giving a cheerful wave from the uncharted depths of 21st century labor force non-participation:

null

“Forward”?

**Written by Doug Powers

Twitter @ThePowersThatBe

Friday lunacy dump: Obama admin says EPA’s new truck emission regs will make shipping costs go down

June 19, 2015 02:45 PM by Doug Powers

The “E” in EPA doesn’t stand for “economists”

Dueling Headlines: Democrats helping to fix the wage ‘Gap’

June 16, 2015 02:33 PM by Doug Powers

Helping businesses “thrive”?

Of course: Unions that lobbied for $15 minimum wage in L.A. now want an exemption

May 28, 2015 06:52 AM by Doug Powers

Unionize to protect your business against union-supported laws!

Heh: Obama to flex his job creation muscle at auto plant — just one problem (make that two problems)

January 5, 2015 08:10 PM by Doug Powers

Another episode of “Behind the Optics”


Categories: Automakers, Barack Obama, Feature Story, Obama Jobs Death Toll