Friday, May 4, 2012 – 08:15 a.m.
The U.S. economy continued to decelerate in April, with just 115,000 jobs created.
The average estimate by economists was for April job creation of 160,000.
The March number was 154,000.
Labor market participation is at a 31 year low, with more than 29.7 million people unemployed.
Interestingly, once again, the actual unemployment rate fell from 8.2% to 8.1%.
The reason for the drop?
The Department of Labor, Bureau of Labor Statistics, reduced the number of people in the workforce actively seeking employment, thus forcing the rate downward.
Keep in mind 88 million people are not looking for jobs.
And a record number are currently receiving food stamps and social security disability benefits