[econjack]

...suggesting the labor market recovery was gaining traction.

That's one interpretation, and given how the gov't always "adjusts" the figures upward about a week later, my guess is that this is totally bogus. It could also mean that: 1) the Discouraged Worker Hypothesis dominated the period and people just gave up looking for work, which would exclude them from jobless claims, or 2) their unemployment benefits ran out and they can't renew them until certain conditions are met (which can vary by state). Either way, Obozo will take credit for this when he deserves none, given that his policies are 180 degrees out of phase with what needs to be done. Still, you can count on a White House spin on the news. The media, of course, which has the economic IQ of a gnat, will lap is all up like a good lap dogs do.

[ThunderSleeps]

One other possibility or contributing factor. Thanks to obamacare employers are known to be using many more part time employees in order to avoid expensive and regulation-bound benefits. Therefore the number of jobs may actually be increasing slightly, but the net amount of work is almost certainly decreasing. A lot of people in these situations have two, even three jobs. (I have a niece holding down 3 part time jobs and she has two room-mates just to be able to afford an apartment) Guess what, lose a job when it is one of two or three that you have and you don't get unemployment. Couple that with flat dropping of people from the workforce. Mix in blatant lies from the administration. Yeah, they can report any rosy glasses numbers they want, doesn't mean spit.

[TomasUSMC]

Im interested in seeing what the GDP will be in the second quarter since the first quarter was DOWN 2.9 PERCENT. And that is not including the 3 PERCENT RECALCULATED INCREASE....which means it was almost down 6 percent!

And since 2 consecutive quarters is considered a recession....what will this next GDP look like?