U.S. employers in March hired at the slowest rate since last June, adding just 88,000 jobs to non-farm payrolls, with steep job cuts in retail and government sectors, including 12,000 at the U.S. Postal Service, according to the U.S. Labor Department’s monthly report released April 5.
Economists had forecast the month’s gain to be about 190,000.
When President Obama delivers his 2013 State of the Union address, remember a comment he made at last year’s State of the Union speech: "Our workers are the most productive on Earth, and if the playing field is level, I promise you: America will always win.”
Big banks, corporations and Wall Street are making record profits, but workers, small businesses and Main Street are suffering. Will voters blame President Obama or the real culprits?
After decades of deregulating and tax-cutting for the wealthiest corporations and the rich (so these ‘job creators” will help the economy, supposedly), results show that the theory of “trickle-down” economics – which claimed that benefits gained by the affluent eventually will drip down to the rest of us – has failed.