Republican leaders expressed strong disappointment in the April employment report released Friday morning, which said the economy generated only 115,000 jobs last month.
GOP lawmakers point to troubling signs that an increasing number of Americans have quit looking for work. The labor participation rate fell from from 63.8 percent to 63.6 percent, its lowest level since December 1981.
Because the jobless rate is measure of the people actively looking for a job that cannot find one, unemployment fell to 8.1 percent from 8.2 percent.
Former Massachusetts Governor and 2012 Presidential Candidate Mitt Romney said in an interview with FOX News, "This is very, very disappointing. A lot of American people are having difficult times, and this is not good news this morning." Romney argued the reason for the drop in unemployment rate was due to more people leaving the workforce.
RNC Chairman Reince Priebus also issued a statement in reaction to the Labor Department report, "In early 2009, President Obama's economic team promised that if we passed the massive $831 billion stimulus, the unemployment rate would be below 6 percent by this year. But just like those millions of 'shovel ready jobs,' it's yet another broken promise.
"Three years ago, President Obama vowed to fix the economy in three years and to hold himself accountable to his record. Today's numbers remind us that he has failed to live up those promises, and he has no one to blame but himself. We must change course in November to ensure our children have the prosperous future they deserve," Priebus said in the statement.
However, the White House found a silver lining in the jobs report, pointing to a 26th straight month of private sector jobs growth and a resilient manufacturing sector.
"Today's employment report provides further evidence that the economy is continuing to heal from the worst economic downturn since the Great Depression, but much more remains to be done to repair the damage caused by the financial crisis and the deep recession," said Alan B. Krueger, Chairman of the Council of Economic Advisers.
"We need to do more, which is why the President has laid out his blueprint for an American economy that is built to last and will continue to urge Congress to act to do more to grow the economy and create jobs," Krueger said.
The president is expected to speak about the unemployment report and student loans later Friday morning at an event being held at Washington-Lee High School in Northern Virginia.
by RTT Staff Writer
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