The greatest economic boom in world history continues apace. Incomes are rising like never before, and anyone who wants a job can get it. These are the best of times the likes of which we will never see again. The economic genius that is Barack Hussein Obama has helped create 290,000 jobs in April. Sounds great but there is a catch, the unemployment rate increased to 9.9% and long term unemployment increased as well.
WASHINGTON (AP) — More confident employers stepped up job creation in April, expanding payrolls by 290,000, the most in four years. The jobless rate rose to 9.9 percent as people streamed back into the market looking for work.
The hiring of 66,000 temporary government workers to conduct the census helped overall payroll growth last month. However, private employers — the backbone of the economy — boosted jobs, too. They added a surprisingly strong 231,000 positions last month, also the most since March 2006, the Labor Department reported Friday.
Read the rest: Jobs up 290,000; jobless rate rises to 9.9 pct.
The real crux of the news is the following from this piece.
Counting people who have given up looking for work and part-timers who would prefer to be working full time, the so-called underemployment rate rose to 17.1 in April. That’s close to the record high of 17.4 percent in October and shows just how difficult it is for jobseekers to find work.
Another grim statistic: The number of people out of work six months or longer reached 6.7 million in April, a new high. These people made up 45.9 percent of all unemployed people, also a record high.
It doesn’t matter that MSNBC and other Progressive propaganda outlets are already heralding this as a sign of a great economic boom. Funny thing is 3.2% GDP growth and 300,000 jobs created were considered anemic 5 years ago. Does having a Democrat in the White House have anything to do with this change I am reporting?
Is water wet?
Yes!
Update: It turns out 180,000 of the 290,000 created were fake and based on a assumption and not real jobs.
(Hat Tip: Right2thepoint)
Tags: Job Growth, Obama Economic Boom
