President Obama's Low Bar for "Good News" “The anemic jobs report may be ‘good news’ in President Obama’s view, but it’s not good enough for America. With nearly twenty-three million Americans struggling for work.....
BigNews.Biz - May 05,2012 - President Obama's Low Bar for "Good News"
“The anemic jobs report may be ‘good news’ in President Obama’s view, but it’s not good enough for America. With nearly twenty-three million Americans struggling for work and a labor participation rate that sits at a thirty-year low, America needs a president who isn’t satisfied by yet another disappointing jobs report.” –Andrea Saul, Romney Campaign Spokesperson
Today, President Obama Hailed The Latest Unemployment Report As “Good News” For The Economy:
President Obama Called Today’s Economic Report “Good News.” “Obama chose to focus on the fact that the rate of unemployment dropped from 8.2 percent from 8.1 percent, not the headline number showing the economy created only a net 115,000 jobs last month, below market expectations. … ‘That's the good news, but there are still a lot of folks out of work which means we have got to do more,’ Obama said, as the unemployment data clouded the official launch of his reelection campaign on Saturday.” (“Obama Shrugs Off Disappointing Jobs Number,” Agence France Presse, 5/4/12)
What Part Of The Report Does President Obama Think Is “Good News”? Maybe It’s The Nation’s Labor Force That Stands At A 30-Year Low:
“In April, The Percentage Of Adults Working Or Looking For Work Fell To The Lowest Level In More Than 30 Years.” (Christopher S. Rugaber, “US Hiring Slows Sharply With Just 115K Jobs Added,” The Associated Press, 5/4/12)
The Share Of Working-Age Americans In The Labor Force Is At Its “Lowest Level Since 1981.” “The share of working-age Americans who are in the labor force, meaning they are either working or actively looking for a job, is now at its lowest level since 1981 — when far fewer women were doing paid work.” (Catherine Rampell, “U.S. Added Only 115,000 Jobs In April; Rate Is 8.1%,” The New York Times, 5/4/12)
“More Than 340,000 Workers Dropped Out Of The Labor Force.” “April's jobs report was, in a word, disappointing. The economy added only 115,000 jobs. Hiring slowed. More than 340,000 workers dropped out of the labor force.” (Charles Riley, “Why Obama Can't Match The Reagan Recovery,” CNN Money, 5/4/12)
“More Than 5 Million Americans Have Been Unemployed For Six Months Or Longer…” “More than 5 million Americans have been unemployed for six months or longer, an astonishingly high number almost three years into a recovery.” (Christopher S. Rugaber, “US Hiring Slows Sharply With Just 115K Jobs Added,” The Associated Press, 5/4/12)
And President Obama May Be The Only Person In America Who Thinks Today’s Report Represents “Good News”:
Capital Economics’ Chief Economist Paul Ashworth, On Today’s Jobs Report: “Will Raise Fears That The Recovery Is Fading Fast.” “‘The very modest 115,000 increase in U.S. nonfarm payrolls in April will raise fears that the recovery is fading fast, just like it did at this time last year,’ said Paul Ashworth, chief U.S. economist at Capital Economics.” (Ben Casselman, et al, “U.S. Jobs Data Add To Fears Of Spring Slowdown,” The Wall Street Journal, 5/4/12)