Happy Friday folks,
Unsettling news in the April jobs report this morning as over a half million more people dropped out of the workforce than got jobs. According to the Bureau of Labor Statistics, 806,000 people dropped out of the labor force last month, while only 288,000 gained employment.
The Left will likely trumpet the decline in the unemployment rate (from 6.7 percent to 6.3) percent), but it’s worth diving into the numbers a bit further.
The unemployment rate has gone down because the current labor force participation rate of 62.8 percent is tied for the lowest rate since President Carter was at the helm (it was 62.8 percent twice in 2013).
Additionally, the employment outlook is a somber one for African Americans and Hispanics, with unemployment rates of 11.6 percent and 7.3 percent, respectively.
According to a new YG Network poll, 65 percent of battleground constituents believe the economy is either stagnant or declining. And with jobs numbers like these, it’s easy to see why they hold these views.
It’s unfair to the American people that liberal leaders in Washington continue to focus on their narrow agenda while the economy remains stuck in the mud. It’s clear that President Obama’s policies are not helping people bounce back.
Seize the day.