APRIL HIRING PITIFUL 115,000 YET RATE DROPS!!!

Numbers released from the Labor Department shows April unemployment dropped to 8.1% as non-farm payrolls increased only by 115,000. As earnings fell flat less business's are hiring as the economy continues to sputter along toward the November elections.  This is not good news for the Obama Administration as they were hoping for a pickup of +160,000 jobs.  Last months jobs report was adjusted upward to +154,000. 

The telling signs of this jobs report is the drop in the number of people that fell off the unemployment rolls as there benefits expire and they stop looking for jobs. The participation rate dropped to 63.6% from last months 63.8%,  the lowest since 1981 as the change in civilian labor force dropped 364,000.   The unemployed and underemployed is now at 14.5%