Unemployment Rate Rises (Back up to 9%)

wall street journal ^ | 5/6/2011 | LUCA DI LEO And JEFF BATER

[tobyhill]

U.S. companies added more jobs than expected in April, but the unemployment rate rose for the first time in five months and the economy's recent slowdown is likely to keep a lid on gains.

Nonfarm payrolls rose by 244,000 last month as the private sector posted the strongest employment gain in five years, the Labor Department said Friday in its survey of employers. The March data were revised upward to show an increase of 221,000 jobs, from a previous estimated gain of 216,000.

[tobyhill]

63,000 of these jobs are McDonald's jobs during their temporary hiring blitz.

[mnehring]

"We're going to be creating between 250,000 and 500,000 jobs a month"- Joey Biden

[ClearCase_guy]

U.S. companies added more jobs than expected in April,

So, what are they telling us? They were expecting the unemployment rate to go all the way back up to 10%? But, due to Obama's brilliant leadership, we added more jobs than expected, so the unemployment rate only went back up to 9%?

Is that what we're going with?

[ilgipper]

Finally. An honest headline. The spin everywhere else is making me dizzy.

[Buckeye McFrog]

The happy-spin being put on this by the other media is causing oil futures to turn back up. The Administration may have just shot itself in both feet and the a*s.

At least now we know what Mickey D’s agreed to in exchange for their healthcare waiver.

[tobyhill]

They are saying more people entered the workforce so they are now counted in the numbers of which 63,000 are from McDonalds on their hiring blitz. The McDonald's jobs were merely a payback to Obama for waiving their Health Insurance Requirements.

In order for the unemployment numbers to go down the increased hiring will have to reach 400,000 plus otherwise it's not even keeping up.

[TSgt]

[Rennes Templar]

“So, what are they telling us? “

U.S. companies added more jobs than expected in April, but they lost more jobs than expected in April, which results in an overall net gain in unexpectedness.

[New Jersey Realist]

The Libs still havent realized that raising the minimum wage screwed things big time. Even kids here at the Jersey shore are having a tough time at the training rate which is 75% of minimum wage. About this McDonals’s hiring; my daughter manages 5 stores in the Philadelphia, South Jersey area and she didn’t hire one new person so I don’t know where these 63,000 new workers are.

[tobyhill]

What it said is, 63,000 newly employed teenagers just entered the workforce and hired on with McDonald's yet that wasn't even close enough to bringing down the unemployment rate.

[RandallFlagg]

“No incumbent President had ever been re-elected with an unemployment rate above eight percent.”

—Rush Limbaugh

[tobyhill]

You didn't notice and apparently the Dept of Labor's unemployment percentage didn't notice.

[eak3]

this current president will make sure there isnt a country left for the next when he steps away.

[palmer]

The happy-spin being put on this by the other media is causing oil futures to turn back up

Another factor is that their accomplices at the Fed will inject even more loose money into the speculative bubble to end the current correction and get the party going again.

[Fishtalk]

You did a magnificent job of summing it up.

[Fishtalk]

You too did a wonderful job of summing it up.

Far as I’m concerned, everyone on this thread should be part of the Lamestream Media.

[tobyhill]

Thanks :)

[CommieCutter]

I know someone who hires at McDonalds and they had an all day hiring job fair for 10 positions. (That’s good news, right? *eye roll*)

[ding_dong_daddy_from_dumas]

63,000 of these jobs are McDonald's jobs during their temporary hiring blitz.

Maybe Obama expects all 63K to remain employed until Nov. 2012? Otherwise it won't do him any good.

[newzjunkey]

The local financial reporter was cheering that we got great news and cited the raw jobs added and ignored the rise in unemployment rate.