Here's what the White House had to say about the jobs announcement Friday:
Today’s employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression. It is critical that we continue the policies that are helping to build an economy that creates jobs and works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.This is proving to be too much to swallow even for the Obama cheerleaders in the mainstream media. CNN's money report had this headline: "Unemployment rate falls for all the wrong reasons." In that report Chris Isidore points out that the reason the unemployment rate dropped to 7.6% is that so many workers in March gave up looking for work.
Only 88,000 found jobs in March. 663,000 gave up looking for work altogether. Since Obama became President over 9 million people have given up looking for work. Less than half were of retirement age. The overall percentage of Americans participating in the labor force is at the lowest in 34 years. From the American Enterprise Institute:
|Recession started and unemployment spiked shortly after Democrats took control of Congress in 2007.|
The White House flack above talked about this news as a sign of recovery and digging "our way out of a deep hole." How? By digging the hole deeper? It seems Obama's answer to devastating unemployment is to force and more Americans to simply give up. And the policies he has put in place are doing just that. ObamaCare is forcing employers to lay off employees and avoid hiring new ones. Obama's reluctance to approve the Keystone XL pipeline and his war on oil is holding back hundreds of thousands of jobs. The regulatory burden Obama's government is putting on business is choking economic recovery.
And let's not forget that Republicans warned Obama's tax increases could kill hundreds of thousands of jobs. We've seen that prophesy come true in one month alone! Yet Obama continues to campaign for even higher job killing taxes.
Media Not Carrying Obama's Water This Time
It's not just the CNN Money guy who had a problem with this dismal job's report:
- Economist Mark Zandi Attributed The Weak Job Growth To Obamacare, Saying “I Think Healthcare Reform Might Be Having An Impact.”
- CNN’s ALI VELSHI: “That’s bad. 88,000 new jobs created in March, very bad. We were expecting 192,000. We needed 250,000 to 300,000. We weren’t going to get that to keep the growth going. 88,000 is very poor.”
- Former Obama Adviser Austan Goolsbee Called The March Jobs Report “A Punch To The Gut.... This is not a good number.”
- Former Obama Adviser Jared Bernstein Called The Jobs Report “Definitely A Disappointing Report.”
- The Washington Post’s Zachary Goldfarb: “Big fail: March jobs 88,000.” (Zachary A. Goldfarb.
- Politico Headline: “Bad Jobs Report A Warning Sign.”
- Reuters: " a sign that tax hikes that kicked in early this year as part of Washington's austerity drive could be stealing momentum from the economy."