Unemployment

http://www.latimes.com/business/la-fi-april-jobs-report-20110506,0,6724981.story

The private sector surges forward adding 268,000 jobs as the government continues to shed jobs(14k)

These gains were not enough to reduce the Unemployment rate though as more people return to the work force, it inches up .2% from 8.8% to 9% flat.  Although a rise in the unemployment rate may seem bad, it comes in the light of the fact that the economy is adding plenty of jobs (although still not enough for a full recovery) so there's still reason to stay optimistic.  These jobs were added when stocks were stagnant and oil prices rising, a result of government inaction on debt and deficit issues and turmoil in the middle east.

Personally I think if Qaddafi abdicates and we get real deficit reduction measures put into action we can expect a speedier recovery. However whether or not either of those things will happen is quite up in the air.

>>2

Slashing spending is the main reason government has shed jobs for the past year month on month.  The government is considerably smaller than it was when Obama took office.  The bad part is that it's state and local governments which are shedding jobs and it's because of all the republican governors recently elected.  Although I do admit, they are balancing the budget at least (well, some of them anyways)