The markets are NOT happy. S&P down 15 points in seconds and heading lower.
gruesome
Let me guess..it was UNEXPECTED? LOL!
I remember back when Bush was president and the dems were complaining about 5% unemployment and how bad it was. Rush referred to their vision as “soupline America”..
Now the really have a “soupline” but it’s the unemployment and foodstamp lines.
Unemployment: The New Norm
Even as the economy recovers, the days of 5% unemployment may be gone for good.
A chorus of economists and labor market observers say that the “natural” or “structural” rate of unemployment has shifted up, meaning that Americans looking for work should get used to having a harder time finding it. The unemployment rate is currently 9% and could take until 2016 to reach the natural rate.
(Excerpt)
http://finance.yahoo.com/career-work/article/112786/unemployment-new-norm-fins
Lowering the bar is Standard Operating Procedure when trying to justify failed policy.
The question is.......were they lying before or are they lying now.
I can’t trust anything coming from this administration.
Wonder the next words will be that we need to spend another billion or trillion to ‘stimulate’ the economy.
They just announced laying off 400+ at Sikorsky in Elmira NY, nothing left here, shut the lights off...wait, NYSEG will do that for us! Priced themselves out of business too!
Just great.
Actually, the UI rate is around 20% without the funny stuff. They can’t hide the numbers any more....numbers are facts and facts don’t spin or lie.
Seriously, it is now time for the Democrat Party to take some very serious action and force POTUS Obama out of office, either by his resignation or impeachment. Obama, IMHO, has purposely destroyed the American economy and jobs market!!! Obama is not an American and should not remain as the POTUS. Failure of action on the part of the Democrat Party will cause its destruction in November, 2012!!! Better wake-up quick, Democrats!!!
The media can’t lie their way out of the failures of obamanomics. They can’t sit there and pretend a recovery is in effect for a full two years (as of this month) and expect the people to accept this new downturn as anything other than a failure of big government and a centrally controlled economy.
Time for the Clinton’s to start floating a “draft Hillary” movement.
Libs on CNBC would rather lie than present sound economics.
Present such nonsense as “Education is a problem, yet we’re firing teachers”...
The problem with education is CONTENT and the quality of teachers staying on the job due to union rules.
The McDonalds hiring bump is over...
Is it wrong of me to smile at this news? It seems selfish to want the economy to be really bad for 2012 but that is the way I feel. Anything that hurts Obama.
Anybody want to guess how long it will be before the Obama administration trots out Geitner to say all the bad economic news is the fault of house Republicans because they will not pass a clean vote to raise the debt ceiling? (he’s starting to sound like that old guy the keeps predicting the end of the world). Also, if you need a good laugh, some democrats are seriously pushing a Porkulus II, claiming the downturn is based on the first Porkulus wearing off.
Expanded followup article:
http://www.marketwatch.com/story/job-growth-slows-to-54000-in-may-rate-up-to-91-2011-06-03
Here’s the really good part:
The BLS collects two sets of data: payroll and household.
The 54,000 figure is from payroll data which has been adjusted by the Birth and Death model by +206,000.
[The Birth and Death model is a statistical tool used to guesstimate the number of jobs created by the birth and death of businesses. For example last month’s +244,000 had been adjusted by +175,000.]
How many of these 54,000 jobs are full time?
(If someone gets a job for 6 hours a week - are they counted in that number? - anyone know?)
Bush’s fault.
EXPECTED. I think all of us EXPECTED this news. Thanks Obama voters.