Saturday, June 5, 2010
Obama's Bait and Switch Backfires
Obama Administration's Spin on May Job Numbers
The Obama Administration is touting the recent release of a Labor Department report that shows 431,000 new jobs created in May 2010 as signs of continued economic recovery.
Let's take a closer look at the real numbers...
The Labor Department figures show that the private sector added 41,000 jobs in May, which was significantly lower than economists' estimations of 180,000 additional private sector jobs that would be created during the month of May.
The numbers were higher due to the 411,000 temporary positions created by the U.S. Census Bureau. These positions accounted for 411,00o of the 431,000 new jobs created in May. Economists say the best gauge for economic growth will be the increase in the number of private sector jobs over the next few months.
While the Obama Administration continues to report promising economic growth, the underlying truth is that the federal government is still needed to spur economic growth.
President Obama and Democrats' out of control federal spending and expansion of federal government mandates continues to threaten the tepid economy recovery that has taken place over the past few months.
National Federation of Republican Women