Posted on 06/01/2012 7:14:53 AM PDT by RobinMasters
Jim Pethokoukis called this a “huge miss” on Twitter, and he’s right. Analysts expected the US economy to add 150,000 jobs in May. Instead, we saw only a net gain of 69,000 jobs, and the jobless rate went up slightly to 8.2%:
Nonfarm payroll employment changed little in May (+69,000), and the unemployment rate was essentially unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care, transportation and warehousing, and wholesale trade but declined in construction. Employment was little changed in most other major industries.
The long-term unemployed jumped up by 300,000 as well, while participation ratios rose:
The number of long-term unemployed (those jobless for 27 weeks and over) rose from 5.1 to 5.4 million in May. These individuals accounted for 42.8 percent of the unemployed. (See table A-12.)
(Excerpt) Read more at hotair.com ...
Unexpectedly!
Everyone drink.
And will be revised downward by at least 10,000 next month!
I'm too old to take a drink every time bad economic news arrives "unexpectedly".
I'll leave that to the college kids looking to get tanked.
What is the real rate? It’s much higher than that (16%? 17%?).
Someone will get fired over this, their job was to manipulate the numbers so the rate would drop to 8%! I think Bozo and the boys were caught sleeping last month.
How’s that Hopey Changey thing workin’ out for y’all?
It will be a test to see who's paying attention as the administration will use and abuse the numbers..
Cute cartoon. In Nevada they’d kill for those numbers.
So would a lot of other places. Among certain demographics, in some areas of the country, the unemployment rate is nearly half. I think I read that it was about that bad for teens looking for summer work last year.
My son is 31 and lives in Southern California. The rate is 12% for his age group, last I heard. He's happy to have the dead end job he's got.
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