Op-ed:
Numbers NOT to make anyone happy
By: Diane Sori
Being this is the third spring in a row in which employers slowed down on hiring, even if you take into consideration seasonal factors, this is an in your face hiring slowdown that possibly could continue for months, lasting right up to the usual job slowdown of the summer months. And while the unemployment rate technically did drop to 7.6% from 7.7% that's NO reason to celebrate, because 496,000 Americans simply dropped out of the labor force completely by simply stopping working, stopping looking for work, or NOT receiving any more unemployment benefits. And these factors drove the percentage of Americans in the workforce down from 65.5% to 65.3%...the lowest since 1979...the Jimmy Carter years.
Economists had hoped that 190,000 jobs
would be created in March but they weren't. Bottom line...the newest
numbers are bad, very bad. And before the msm starts trying to tie
yesterday’s dismal report to the sequester spending cuts that went into
effect on March 1st,
it’s important to remember that the federal government added 9,000
new jobs, post-sequestration....meaning government bureaucracy
grew while the private sector again limped along contrary to Obama's
bloviations to the contrary.
The reality is that even while the
unemployment rate declined
those NOT
in the labor force grew by over 660,000, with the total
civilian non-institutional population growing by just 167,000 to
244,995, meaning the actual labor force declined by 496,000. In
fact, a 4% difference between the reported unemployment rate of 7.6%,
and what the real unemployment rate is, assuming normal growth of the
labor force, which
in March was 11.6%,
this shows that the
economy has NOT improved even by one iota since 2009.
And while a temporary lull in the job market had been expected because of both the sequester and the January 1st payroll tax increase, yesterday's disappointing jobs report does red flag new concerns about the strength of Obama's so-called economic recovery, especially since over the past 12 months hiring had averaged 169,000 new jobs per month NOT like March's miserly 88,000 jobs created.
Now also called into question given how strongly stocks have recently rallied is whether all this has been smoke and mirrors to hide an emerging total economic collapse.
So while Obama and those in his orbit blame the sequester for the newest disappointing jobs numbers, some economists on Obama' team warn that 750,000 fewer jobs will be created because of it. But it's Obama's economic policies themselves that continue to make it harder for Americans to find work, proven by the fact that last month the number of Americans filing jobless claims rose by 28,000 to a four-month high of 385,000.
And the root cause of all these unhappy numbers could very well be none other than ObamaCare itself as both small
and large businesses cannot afford to hire more workers because they cannot
afford the Obama mandated employee coverage. So a vicious circle has
been created of NO jobs, NO prospects, and NO money for the American
worker...but the 'sponges' of our society remain happy as NO matter how bad the numbers
look for the American labor force the free phones, food stamps,
and free medical care at our taxpayer expense will always be had.
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