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.
Here's hoping he pounds the "One".
Interesting that the term “McJobs” has been seen in the MSM since Nov 2008......
Interesting that the term “McJobs” hasn’t been seen in the MSM since Nov 2008......
What happened? I didn’t see the word “unexpected” in this snip. Have expectations dropped badly?
Its so easy predicting what the Obama admin is gonna do because they is a one trick pony. They blame everyone else for their failures.
Perhaps not. They may be depressing the numbers now so they can claim “recovery” closer to the election.
Hopefully, they’re realizing how foolish they sound when they keep reporting the negative news as “unexpected”.
Here is what was expected-—
Analysts surveyed by CNNMoney expect that the U.S. economy added 150,000 jobs in May, including 12,000 government cuts. The unemployment rate is expected to stay at 8.1%.
Yeah, I was thinking that it must be really bad, much worse than they admit, if they actually had to tick the unemployment rate back UP a tenth instead of claiming a drop.
The stink is now so bad they can’t find the perfume to cover it up, this economy is like a skunk that is shot dead just AFTER spraying everything around him and is then left to lie there. A blind person could spot the problem from half a mile away. All that is needed now is for the high priest of Kenyan economic magic to remind us that he “inherited” the problem.
“This is another summer of recovery?”
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If you do as the Russians do and lay in a huge supply of Vodka and pretend it is water you might be able to imagine a recovery. About two quarts a day should be enough.
The real unemployment figure, if calculated by the method used during the “great depression” is at “great depression” levels. I just can’t figure out what is so great about a depression.
“You know I love ya, baby. I wouldn’t leave ya! It wasn’t my fault. Honest! I ran out of gas. I had a flat tire. I didn’t have enough money for cab fare. My tux didn’t come back from the cleaners. An old friend came in from out of town. Someone stole my car! There was an earthquake! A terrible flood! Locusts! It wasn’t my fault, I swear to God!”
The expectations were unexpectedly dropped.
Did you do all that by yourself? That is what I call high art done by computer. That picture is worth many thousands of words.
It has taken months and months and months of slow, steady deliberate incremental lying to get the number down from 10%. While I wouldn’t put it past them, I think the task would be herculean to take dismal numbers (vastly optimized by big government and the complicit media) back down......
They are busting at the seams with their lies and their pants have split up the backside. They just can’t continue with believable lies when virtually no one in real America sees day-to-day confirmation that their lies are true.
When the rate fell from 8.2% to 8.1% the dims trumpeted that we had solved the unemployment problem. Now that is has climbed 1 point, we’ll be told this is not significant and not to worry.
He just did that yesterday right in the face of and at a ceremony for the guy he inherited the job from. Today he’ll probably just let his Carney handle it.
the spin..
“There was a positive jump in the workforce participation”... mainly because nobody told college grads that there are no jobs.
Solution? remove another two million from the workforce participation number next month and voila, job growth.
At least there was 69,000 jobs created unlike in 2009 when there were jobs losses.. Until they get adjusted down another 11,000..
Solution? tweak the “seasonal adjustment” so as to make the numbers look better.
So, what did we learn? The “labor dept” will have to make sure they jimmy up the numbers more in the coming weeks to present a better report to keep the media talking up Obama during the 4th of July week. Because nobody will care about July adjustments when the August numbers show fantastic growth due to additional tweaks.
...And the kenyan jets off for 6 fundraisers today. We just don't have an engaged POTUS and it is killing the economy. His policies are a disaster and there is absolutely no leadership in the WH.
Especially Joe “Communist” Kernen.
Kernen always gets that Crissy Matthews tingle up his leg whenever he talks/thinks about oslama.
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