Posted on 06/01/2012 5:33:07 AM PDT by NE Cons
The American jobs engine hit stall speed in May, with the economy adding just 69,000 new jobs while the unemployment rate climbed to 8.2 percent.
Photo: Sturti | Vetta | Getty Images --------------------------------------------------------------------------------
As another summertime swoon looms, the Bureau of Labor Statistics reported that job creation missed economist estimates for 158,000 new positions, and said labor force participation remains near 30-year lows though incrementally better than last month.
In May, stocks suffered through their worst month in two years, and the job-creation figures only added to the gloom.
Stock market futures indicated a sharply lower open for Wall Street, while investors continued to pour into bonds, sending the 10-year Treasury note yield tumbling to near 1.50 percent
The report comes a month after the government reported that just 115,000 new jobs were added in April, a number that helped contribute to a general malaise about economic growth.
With worries swelling over the state of the global economy, another weak employment report in the U.S. adds to fears that a sharp slowdown is on the way.
ALL smoke and mirrors from the current regime
What this means that the real numbers are much, much worse. So bad that even the big government/MSM lie-machine could pull of this kabuki unemployment scam any longer.
This is another summer of recovery?
-49,000 in revisions from Mar and Apr!
April’s jobs report revised DOWNWARD 38,000 jobs, March DOWNWARD 11,000...
Biden’s 500,000 a month during summer. Oh wait, that was last summer. Or the summer before... Pathetic.
Things must be getting really bad, even with Obama’s Labor Department massaging the numbers and simply dropping millions from the universe of workers, the rate still ticked up. Of course without that massaging it would have probably jumped to 8.5%...
watching CNBC- they look like they want to commit suicide...dow futures down 195pts...
expectations were 150,000 jobs...
ANYONE who votes for this clown again needs to be lobotimized
Well, Bush was in the White House yesterday.
Coincidence?
CNBC talking about not only how bad the report is but how the revisions from the past two months show the trend....they then sadly noted how this is going to hurt obama’s re-election chances- BOO HOO...
if all else fails blaming Blown will rally the rat troops.
have a nice fall over the edge into abyss.
Loving their reaction, but taking a bath in my 401k.
if all else fails blaming Boosh will rally the rat troops.
have a nice fall over the edge into abyss.
Thanks for that....I needed the laugh......
Obama AND the Democrats are presiding over JOB DESTRUCTION. He is a far-left type who wants to recreate in the United States the economic situation in Russia in 1917.
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