A lackluster jobs report | The Week UK

A lackluster jobs report | The Week UK

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Job growth slowed for a second straight month in April, adding to fears that the U.S. economy is stalling again after promising signs of an expansion earlier in the year. Employers created just 115,000 jobs in April, according to the Labor Department, far fewer than the monthly average of 252,000 added from December through February. The unemployment rate ticked down slightly, from 8.2 to 8.1 percent, the lowest rate since January 2009, but that was a result of more than 340,000 people leaving the labor force. The mediocre report dilutes President Obama’s message that the economy is on the mend. Republican presidential nominee Mitt Romney seized on the numbers as evidence that the economy is “slowing down, not speeding up.” However you slice it, it’s “not a pretty picture,” said the _NEW YORK POST_ in an editorial. The strong jobs figures earlier in the year “now look like the result of the unseasonably warm weather rather than any economic recovery,” and the percentage of Americans in the labor force is now the “lowest in more than _three decades_.” It’s long past the point where the president can blame this desperate state of affairs on his predecessor. Actually, this “perfect Rorschach test” of a report lets both Democrats and Republicans see whatever they want to see, said ZACHARY KARABELL in _THEDAILYBEAST.COM_. Those looking for a positive spin can point to the fact that the economy is still adding jobs; pessimists can cite stagnant wages and the “chronic problem of long-term unemployment.” In a sense, they’re both right, since these figures show the jobs picture “getting neither better nor worse.” SUBSCRIBE TO THE WEEK Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives. SUBSCRIBE & SAVE SIGN UP FOR THE WEEK'S FREE NEWSLETTERS From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox. From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox. At least the economy is still growing, said GREG IP in _ECONOMIST.COM_. Earlier jobs numbers continue to be revised upward, and other data, like strong car sales, upticks in factory purchasing, and the stock-market climb, show “no signs of a sudden drop-off.” That isn’t enough to ensure Obama’s re-election. But it’s enough to suggest that a stall isn’t upon us. A free daily email with the biggest news stories of the day – and the best features from TheWeek.com Explore More Main Stories

Job growth slowed for a second straight month in April, adding to fears that the U.S. economy is stalling again after promising signs of an expansion earlier in the year. Employers created


just 115,000 jobs in April, according to the Labor Department, far fewer than the monthly average of 252,000 added from December through February. The unemployment rate ticked down slightly,


from 8.2 to 8.1 percent, the lowest rate since January 2009, but that was a result of more than 340,000 people leaving the labor force. The mediocre report dilutes President Obama’s message


that the economy is on the mend. Republican presidential nominee Mitt Romney seized on the numbers as evidence that the economy is “slowing down, not speeding up.” However you slice it,


it’s “not a pretty picture,” said the _NEW YORK POST_ in an editorial. The strong jobs figures earlier in the year “now look like the result of the unseasonably warm weather rather than any


economic recovery,” and the percentage of Americans in the labor force is now the “lowest in more than _three decades_.” It’s long past the point where the president can blame this desperate


state of affairs on his predecessor. Actually, this “perfect Rorschach test” of a report lets both Democrats and Republicans see whatever they want to see, said ZACHARY KARABELL in


_THEDAILYBEAST.COM_. Those looking for a positive spin can point to the fact that the economy is still adding jobs; pessimists can cite stagnant wages and the “chronic problem of long-term


unemployment.” In a sense, they’re both right, since these figures show the jobs picture “getting neither better nor worse.” SUBSCRIBE TO THE WEEK Escape your echo chamber. Get the facts


behind the news, plus analysis from multiple perspectives. SUBSCRIBE & SAVE SIGN UP FOR THE WEEK'S FREE NEWSLETTERS From our morning news briefing to a weekly Good News Newsletter,


get the best of The Week delivered directly to your inbox. From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox. At


least the economy is still growing, said GREG IP in _ECONOMIST.COM_. Earlier jobs numbers continue to be revised upward, and other data, like strong car sales, upticks in factory purchasing,


and the stock-market climb, show “no signs of a sudden drop-off.” That isn’t enough to ensure Obama’s re-election. But it’s enough to suggest that a stall isn’t upon us. A free daily email


with the biggest news stories of the day – and the best features from TheWeek.com Explore More Main Stories