Kliphnote: And Obama tells folks that unemployment is going great.
The only place unemployment is going is to hell.
When everyone stops looking for work the unemployment will
fall to Zero.
Than Obama can say what a great job he's doing.
Even a blind Chinaman (Chen Guangcheng) sees it differently.
But the hero of the nanny state will always have his worshipers.
The Vanishing Workers
The labor participation rate is back where it was in December 1981The economy turned in another lackluster month for job creation in April, with 115,000 net new jobs, 130,000 in private business (less 15,000 fewer in government).
The unemployment rate fell a tick to 8.1%, albeit mainly because the labor force shrank by 342,000. This relates to what is arguably the most troubling trend in the April jobs report, which is the continuing decline in the share of working-age Americans who are in the labor force.
The civilian labor participation rate, as it's known, fell again in April to 63.6%. That's the second decline in a row and the lowest rate since December 1981. That's right—more than 30 years ago, longer than Mark Zuckerberg has been alive. The nearby chart shows the disturbing round trip the workforce participation rate has taken since 1980 and the precipitous drop in the last three years.
Obama Abolishes the Press Conference
President Obama has held just one full length, multi-topic, solo press conference in the last six months, effectively abolishing the most accessible venue for American citizens to observe the thinking and learn the views of their leader.
It’s May, and the president has stood for only a single such news conference this year, a March 6 event in the briefing room. He’s had only three since last June, counting a November press conference in Hawaii that was supposed to be devoted to the just-held Asia-Pacific Economic Cooperation summit but which veered off into other issues.
Nor does Obama generally allow questioning during brief appearances at the White House, such as when he makes statements with foreign leaders. Previous presidents, including George W. Bush, routinely took a couple of questions on the topic of the day at such gatherings.
Bush also held fewer press conferences than he should have. But this doesn’t excuse Obama, who would seem especially obligated to appear before the press given his pledges to maintain an “openness” administration.
Instead, the White House does its best to control access to Obama, presenting him to local and sometimes national reporters in “one-on-one” settings.
Labor Force Shrinks As Jobless Swell Disability Ranks
The civilian labor force shrank in April by 342,000 workers and remains below where it stood when the economic recovery started 34 months ago, according to data released Friday by the Bureau of Labor Statistics.
Had the labor force not declined, unemployment would have been 8.3% in April, instead of the 8.1% reported.