Ostensible good news:
Economy adds 288,000 jobs in April, unemployment rate falls to 6.3 percent http://t.co/InHxITw5zg
— Fox News Politics (@foxnewspolitics) May 2, 2014
Actual bad news:
Pretty giant drop in the labor force though, 806K, which accounts for some of the falling unemployment rate… pic.twitter.com/t6kXF7tTR5
— Matt Phillips (@MatthewPhillips) May 2, 2014
Confirmation of bad news:
If labor force participation rate had stayed flat from last month, jobless rate would have risen to 6.85%
— James Pethokoukis (@JimPethokoukis) May 2, 2014
And now, a spot of analysis (because even I think that this is a lazy post): the Obama administration has a definite problem in how to spin this. The basic problem for them is that you can say that the economy’s recovering and that people are doing great and that there will be pie, later – but there’s a limit to how well that will work, and by now it’s pretty clear to the American people that there will not be pie. But the last thing that Barack Obama can do is admit that, because his own base would freak out at the suggestion that they (well, the Democratic party) have messed up the economic recovery. It’s quite the pickle: but I’m sure that the administration will work it all out eventually*.
*Probably by whining a lot, interspersed with blaming other people for their problems. That seems to be the pattern.