April 6, 2015

Poor Jobs Report Shows Need for GOP Alternative

Over the long Easter weekend, the Bureau of Labor Statistics reported that job growth during March did not reach the 245,000 jobs economists predicted – not even close. While the unemployment rate stayed flat at 5.5% and the U-6 measure of labor underutilization edged down to 10.9%, the U.S. economy added only 126,000 jobs in March. Furthermore, BLS revised its job numbers for January and February down 69,000. To put this in perspective, 150,000 jobs must be added per month to keep up with population growth. And there were two times as many unemployed people as people who got a job. Barack Obama’s rosy rhetoric on his economic legacy has washed away with the snowmelt. Columnist George Will told Fox News, “If the workforce participation rate today were as high as it was on the day Barack Obama was inaugurated, the unemployment rate in this country would be 9.7%. We wouldn’t be complaining about the bad recovery because we wouldn’t call it a recovery.” We’ve had years of this tepid economy. It’s time for Republicans to champion an alternative. More…

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