And this is borne out by the latest jobless figures. New claims for unemployment benefits fell less than expected last week, according to a government report out today. And this is dampening hopes of a pick-up in job creation in April after March's slowdown.
Now, the government has also had to take the previous week's jobless claims figures and revise them up from 380,000 to 388,000.
What's more, the four-week moving average for new claims, considered a better measure of labor market trends, rose 5,500 to 374,750.
This is not what economists had hoped would happen.
And these figures are not moving in the right direction.
The new number of jobs added in March is the lowest number since last October. Not good.
The number of people still receiving unemployment benefits under regular state programs after an initial week of aid rose 26,000 to 3.30 million in the week ended April 7. Also not good.
And on top of all this the Obama administration seems mired in waste, scandal and corruption: Solyndra, Fast and Furious, the Secret Service scandal, the GSA imbroglio, Panetta's $860,000 commuting, all those First Lady (and First Family) vacations and parties. Where does it end? Where?
How about November 6th? How's that sound?
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