April 7, 2012
The Labor Department reported that the economy added 120,000 new jobs in March, falling well short of the more than 200,000 that had been expected. The unemployment rate dropped from 8.3 percent to 8.2 percent, but that decline came mostly from people giving up on their job searches.
Whether the March slowdown in hiring indicates a momentary blip or a long-term trend is unknown, but Federal Reserve officials have expressed concern that the job growth logged in recent months is an illusion.
The pace of job creation is central to Obama’s chances in November, when the economy is likely to be the top issue for voters.
Ya think? You don’t create jobs by yammering on about hoodies or golf courses or birth control, though.