Oh the horror......But is it the truth?Pelosi wrote:Washington, D.C. – Speaker Nancy Pelosi today released the following statement this morning after the Department of Labor released its employment report for April showing a loss of 20,000 jobs, the fourth consecutive month of job losses:
“Today’s jobless numbers, combined with slowing consumer spending and nearly flat wage increases, are additional evidence of the need for Congress and the President to work in a bipartisan way on additional steps to get our economy back on track.
“Many Americans fear losing their jobs, many fear losing the homes; and most everyone is worried about losing their standard of living. The New Direction Congress has responded by passing Recovery Rebates, which millions of families are now receiving.
“We will soon act on comprehensive housing legislation that provides the most assistance to Americans of any plan yet to help them refinance and keep their homes. We should also extend unemployment insurance for Americans whose benefits will soon expire and offer additional food stamp assistance to families struggling with rising food costs. We are also calling on the President to act to combat record gas prices by halting the filling of the Strategic Petroleum Reserve.
“We urge the President to work with Democrats in Congress to speed economic recovery and to provide critical relief to American families.”
Quote »By JEANNINE AVERSA, AP Economics Writer WASHINGTON - Employers cut far fewer jobs in April than in recent months and the unemployment rate dropped to 5 percent, a better-than-expected showing that nonetheless reveals strains in the nation's labor market.
For the fourth month in a row, the economy lost jobs, the Labor Department reported Friday. But in April the losses totaled 20,000, an improvement from the 81,000 reductions in payrolls logged in March. Job losses for both February and March turned out to be a bit deeper than previously reported.
The latest snapshot of the nationwide employment conditions — while clearly still weak — was better than many economists were anticipating. They were bracing for job cuts of 75,000 and for the unemployment rate to climb to 5.2 percent. [/quote]So, we have lost XXX number of jobs yet unemployment dropped to 5%? Can anyone buy a clue today or what?
