Yesterday President Obama made a visit to Elkhart, Indiana to tout the so-called economic recovery as a roaring success and reason to elect Hillary Clinton in order to preserve his legacy. He also took the opportunity to slam Fox News for reporting the truth about a slow economic recovery.
Many living in Elkhart rejected Obama taking credit for the economic progress of hard working businesses in the area and a new jobs report out today is the worst we've seen on the employment front in five years. Don't be fooled by a declining unemployment rate, just 38,000 jobs were added last month. People are giving up their job search and leaving the work force, as they've been doing for years.
The RNC is calling the report "devastating" and reminding voters a Hillary Clinton presidency will simply be an extension of the Obama non-recovery.U.S. employers drastically slowed their hiring in May, adding just 38,000, the fewest in more than 5 years and a sign of concern after the economy barely grew in the first three months of the year.
At the same time, the unemployment tumbled to 4.7 percent from 5 percent, the Labor Department said Friday in its monthly unemployment report. The rate, to its lowest point since November 2007, fell for a problematic reason: Nearly a half-million jobless Americans stopped looking for work and so were no longer officially counted as unemployed.
The much-weaker-than-expected jobs report will raise doubts that the Federal Reserve will increase the short-term interest rate it controls at its next meeting in mid-June or perhaps even at its subsequent meeting in late July. Many analysts had expected an increase by July.The government has estimated that the economy grew at just a 0.8 percent annual rate in the January-March quarter.
