Okay, no surprise, the Rs are furiously trying to spin the relatively weak jobs report for March into a message about how Barack Obama and Democrats have failed, failed, failed.
Claptrap like that aside, there are different scenarios I’ve read that bear pondering if one digs into the numbers below the 120,000 jobs and the 8.2 percent unemployment rate.
Brookings Senior Fellow Gary Burtless cautions this could mean a slowing of hiring. The unemployment rate fell slightly, he points out, because of people giving up looking for work.
My friend Catherine Hollander, posting at National Journal, sees some signs for optimism.
Timothy Lange, under his nom-de-blog Meteor Blades, notes, at Daily Kos, that hourly wages were up a tick, but didn’t keep pace with rising living costs. Big chunk of new hiring was in manufacturing, finance, health care, professional and business services, and leisure and hospitality.
But let us also remember, as Ezra Klein points out, these BLS job numbers are subject to sometimes huge revision.