HORRIBLE – Only 88,000 Jobs Added in March – Unemployment at 7.6% – Markets Plunge

Labor force at 63.3% , lowest since 1979…
SHOCKING – 90 Million Americans exit work force.

Stock Futures Dive after jobs numbers released–
spx dive
the Futures Market was down before the numbers were released today. Then plunged after the news was announced.

Unemployment rate drops only because people stopped looking for work.
The AP reported:

U.S. employers added just 88,000 jobs in March, the fewest in nine months and a sharp retreat after a period of strong hiring. The slowdown is a reminder that the job market’s path back to health will be uneven.

The Labor Department says the unemployment rate dipped to 7.6 percent from 7.7 percent. While that is the lowest in four years, the rate fell only because more people stopped looking for work.

The weakness may signal that companies were worried last month about steep government spending cuts that began on March 1.

March’s job gains were half the pace of the previous six months, when the economy added an average of 196,000 jobs a month.

Barack Obama is the worst jobs president since the Great Depression.

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