Disappointing Jobs Numbers

The unemployment numbers came out this morning and we’ve seen a 0.1% decrease in the official unemployment rate (from 8.2% to 8.1%).

This is actually not great news. We’ve not hit “escape velocity,” and this is certainly a hiccup in the recovery. U6, the broadest measure of unemployment, stayed at 14.5%. It’s the worst month in 2012. Things are certainly not improving at the rate we would like.

It leaves us in bad shape to close the job gap, too. If we want to get back to pre-recession levels, we’re going to need a lot more jobs than this. A new interactive from the Hamilton project shows how long it would take to fix the job gap.

It’s bad news. But it’s better news than Mitt Romney would have you believe.

April was the 26th month of straight private sector job creation. That’s really good news. The recovery might have softened last month, it’s certainly not over. And Mitt Romney wants to bring Bush’s budget people back. That’s a nightmare waiting to happen. The recovery may be softening, but there are better places than the White House to look for blame. No President could influence this economy enough to create 500,000 jobs.

And you say you want 500,000 jobs? You must be crazy.



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About the author

Joe Ste.Marie

Joe is a rising sophomore at AU majoring in Law and Society. He aspires to defend all from injustice.