As the 2012 election heats up, a dismal jobs report for May is showing that while corporations and CEO’s are recovered from the Great Recession; the working class is far behind.
The latest numbers from the U.S. Labor Department offer a mixed bag of news to President Barack Obama.
President Barack Obama and Congressional Democrats got good news from the unemployment report Friday morning. According to the Labor Department, the unemployment rate in January dropped to 8.3 percent. That’s the lowest rate in roughly three years.
The latest job numbers out of the U.S. Labor Department and private employment analysts showed unemployment dropped in about two-thirds of the major metropolitan areas around the country, giving hope to the jobless around the area.
Unemployment remains at historic levels in South Florida, but in other parts of the country, the recession is turning around.
Employers added more than 200,000 jobs in April for the third straight month, the biggest hiring spree in five years. But the unemployment rate ticked up to 9 percent.
While Florida won’t release their first time jobless claims numbers for a couple of more weeks, nationwide the numbers were up for the third week signaling a weakening in the job market.
New numbers from the Labor Department could help spur more job growth in South Florida and across the nation. The nation’s unemployment rate fell to a two-year low of 8.8 percent in March.