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The dismal April's jobs report

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    Americans dropping out of the workforce contributing to the numbers?

  • Duration 5:40
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Is and the impact segment tonight that dismal April jobs report is out and hear the highlights.

The jobless rate fell to a three year low of eight point 1%.

But that's a bit misleading because the drop is only due to the fact that more Americans are dropping out of the workforce.

American employers added fewer workers than forecasted only about a 1151000 jobs the smallest gain in six months.

Now President Obama spun the numbers earlier today.

After the worst economic crisis since the Great Depression.

Our businesses and operated more than four point two.

Million new jobs over the last 26 months more than one million jobs in the last six months -- Not surprisingly Mitt Romney rejected the president's happy talk.

-- should be saying numbers in the 500000 jobs created per month this is way way way off from what should happen in a normal recovery.

The reason that you're seeing the unemployment rate go down is because you have more people dropping out of the workforce.

-- you -- getting jobs.

With us now Stephen Moore Wall Street Journal senior economics writer and editorial board member and Christian say he's -- director at the economic.

Policy institute.

All right gentlemen.

This is clearly not that number that the administration wanted and Christian I -- your comment that.

It the government has to do more best to do more to create jobs and more to work within communities to actually.

And -- able to work all this all these projects that need.

Working on roads and so forth -- But I'm out of mind and work cut out of ideas and -- -- we government creates jobs when I really long term economic growth.

Not a novel we want to long term Laura but we're certainly not out of ideas were just out of political will that seems you know we've waited for a long time for the private sector to generate the jobs necessary for this -- be a real recovery.

It hasn't happened and the time is his way past due to directly create jobs so that we can actually get to the business of restoring our fiscal footing.

And Stephen -- -- we -- something like -- WPA now I'll where the government is actually a it an engine of growth by spending money and so forth because.

I don't know I just posted a will to spend money that -- -- spent 800 million plus stimulus that had short term benefit.

Well exactly right and American people a right to reject that idea look to borrow a phrase from the president Laura we tried it your way and it didn't work.

We have thrown everything we've got in terms of this kind of keynesian idea they government spending creates jobs as you mentioned we had 800 billion dollar stimulus bill we've got.

400 billion dollars of mortgage modification programs we had cash for clunkers auto bailout so I can go to on the less.

The point here is that all of that -- -- a government spending simply has not worked.

-- -- I would use exactly the opposite approach I think guys really start trying to cut back on -- the -- For a lot of those liberals to be saying you know what the problem isn't that is the government isn't doing enough to create jobs.

And Laura -- -- want to point two trillion dollars a year this year if that isn't enough stimulus from the government.

What is it you know -- one other interesting point about Nate -- you really nailed it when you talked about the fact that people are dropping out of the labor force.

The only reason the unemployment rate dropped and that will be the headline a lot of papers unemployment rate drops but -- and only dropped because.

Over the last two months within half a million Americans drop out of the workforce that we used to -- discouraged workers now we should maybe column to promised workers.

A Christian how Democrats deal with this reality of in the numbers are what the numbers are and do it since 1981.

We haven't -- had such a low participation rate -- and the workforce 81 I mean how does that -- and change I mean -- try to keep it balanced here.

Listen its -- speaks more.

Quite respectfully to the fact that we need to do more that all the things that Stephen talked about.

Have expired have been out of the economy for going on a couple of years now.

What we've seen in the last eighteen months is really our natural state of an economy work in the private sectors not adding jobs at the rate -- necessary that speaks to me that more needs to be done in fact.

You may think that the Recovery Act was wasted money but it produced real results and certainly we have a lot of needs in this country.

Where jobs can actually be put towards and if we did that we see the -- come down a lot.

Haven't been there yet again the money the numbers are -- the numbers are we are the buried in -- we -- we now have a less leverage pretty much everywhere in the world because of our our weakened economic standing with China would Brazil and Russia.

So -- so given that fact given -- -- public's lack of appetite for more spending.

What else you do.

It's not just spending it in a vacuum it's the first of -- borrowing costs are extremely well.

For the federal government as well for the private sector so if you put that money to work invested wisely so that it creates a greater return that's positive economic benefit and we certainly have -- an appetite for positive economic.

-- more how much other interests to retain every year on that that.

What that was out.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- We weren't having a 120000.

Jobs a month we were 30400.

We have one I'm gonna pull -- under under.

President -- -- a million jobs and one month we're not out tons of numbers we're Rick ware appreciate it all that it thank you so much directly.

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