Friday, May 4, 2012

Romney: April jobs report is "terrible"

On Fox News this morning, Mitt Romney responded to the just-released April jobs report.

"We should be seeing numbers in the 500,000 jobs created/month. This is way, way off from what should happen in a normal recovery.

The reason that you're seeing the unemployment rate go down is because you have more people dropping out of the workforce than you have getting jobs.

It's a terrible and very disappointing report this morning."

In April, the economy added just 115,000 jobs, and even though the unemployment rate fell from 8.2% to 8.1%, a significant reason is that 342,000 dropped out of the labor force.

Rough numbers.

CNNMoney notes that many economists were predicting a gain of 160,000 jobs.