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Obama Re-Election Momentum Hits Snag in April Jobs Report
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News
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| Contributor | Scott³ |
| Last Edited | Scott³ May 05, 2012 02:30pm |
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| Category | Analysis |
| Author | Mike Dorning and Kate Andersen Brower |
| News Date | Friday, May 4, 2012 08:00:00 PM UTC0:0 |
| Description | "A slowdown in job growth in April cuts the economic momentum behind President Barack Obama’s re- election bid as he prepares to officially begin campaigning.
U.S. employers added 115,000 workers to payrolls in April, the smallest gain in six months. The unemployment rate dropped to 8.1 percent as fewer people sought work.
Roger Altman, a deputy Treasury secretary in the Clinton administration and a senior economic adviser to 2004 Democratic presidential candidate John Kerry, called the monthly jobs report “pretty disappointing.”
“We need 200,000 to 250,000 jobs to really make this, or to illustrate that this is a healthy and strongish recovery,” Altman, chairman and founder of Evercore Partners, said in an interview on Bloomberg Television. “We’re nowhere near that.”
Private payrolls crossed a boundary in April to positive territory during Obama’s term, with a net gain of 35,000 since he took office in January 2009. Total payrolls remain lower than when Obama was inaugurated because there are 607,000 fewer federal, state and local government employees." |
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