Saturday, May 5, 2012

Number of Americans working or looking for jobs falls to 30-year-low in a severe blow to Obama's campaign

The percentage of Americans working or looking for work has fallen to its lowest level in more than 30 years, according to gloomy economic figures that are a major blow to President Barack Obama’s hopes of re-election.

This stark ‘participation’ figure of the proportion of Americans in work will underline the sense of continued crisis at a time when the views of voters on the economy are crystallising.

Although the April unemployment rate dropped to 8.1 per cent, this was mainly due to discouraged workers giving up hope and leaving the labour force.

Only 115,000 jobs were added, the lowest number since a slow economic recovery began last August, and the number of people in work fell by 342,000. Read More