Another dismal month of job creation: More unemployed give up looking for work (Updated)

I don't know why we even bother mentioning the "official" unemployment rate. It is so decieving of the true employmnet situation that it's not worth paying attention to. For the record, the Labor Department says the unemployment rate fell to 8.1% - down from 8.2% last month. But looking inside the numbers gives a dreary picture of what it's like to be unemployed in Obama's economy. MSNBC: The U.S. economy generated fewer jobs than expected in April, but the unemployment rate dipped slightly and data from prior months was revised upward, painting a murky picture of labor market conditions. It was the second straight month that hiring slowed in the U.S. and it raises concerns, six months before Americans go to the polls to choose either President Barack Obama or his Republican challenger Mitt Romney as president, that the nation's job-creating machine is sputtering. The Labor Department said Friday that non-farm payrolls rose by 115,000 last month, much lower...(Read Full Post)