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.
Plus, think of all the college graduates that are not included in the official unemployment numbers but are looking for work. A huge swath of people were just added to the pool of people fighting over 1,380 jobs per state.
Where are the jobs? That 8.2 unemployment rate is total bullshit! The unemployment rate is closer to 20% thanit is to 8%.
Let’s see the White and the pressholes polish this turd.
The numbers will be revised down to 6 new jobs next month.
Barry can blame Bush again for this because he was at the White House for a couple of hours yesterday.
Did I miss something? Were there any large scale weather events in May which killed construction jobs?
For starters, I work in structural steel, so I've kinda got the worm's eye view of this deal.
The short and simple answer:
There haven't been any major construction projects in our market area (outside of stuff that got Federal Slush Funds) for over two years.
Lately, those "Stimulus" jobs have been completed or run out of interest/money.
We've done around a third of our normal business up until now, and our schedule for what should be our busiest time of the year has gone to jack-point-zip-diddly-sh** nothing.
Reality can be a bi***, can't it?
“ALL smoke and mirrors from the current regime “
Fitting, given that Obama smokes pot (’smoke’) and snorts coke (likely off of a mirror).
I bet they’ll still party hardy on PA Ave or some vaca hot spot.
Wonder if they’re going to keep running that commercial talking about all th jobs Obama has created and how we’re coming back because of Obama’s policies.
Hope the fools keep running it.
The funniest part in all this idiocy is how the MSM keeps debasing themselves over this moron. I very much doubt this country has witnessed so much stupidity in all it’s history.
President Trayvon
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Good one
“WHO is stupid enough to expect 150,000 jobs?”
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The problem of incompetent expectorators has been mentioned in the past by other Freepers. I propose a massive new government program to spend six hundred million gazillion quadrillion dollars to fund a new Ivy League university program in Expectoration Studies. Graduates would receive a PhD of Expectoration degree. I expect that this would result in a rapid rise in national expectoration which would exceed even the wildest of expectations.
Hard to believe there ever would be a worse occupant of the White House than every dictator's favorite toilet brush, Jimmy Carter, but Bathhouse Barry does it.
Oh, and he's...
A recession is when your neighbor loses his job. A depression is when you lose yours. And recovery is when Jimmy Carter loses his.” — Ronald Reagan, September 1, 1980
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Short, to the point, and memorable.
Ok Mitt come up with one like that....
After the first “Summer of Recovery”, any sane American should have given Obama the credit or blame for the economy under this regime. If (worst case for America - Obama stays in our White House for another term and . . .) this recession goes on for five more years, even dedicated Obama voters will recognize the truth.
Yup, just like he said yesterday to Dubya's face at the White House before the GWB and Laura Bush portraits' unveiling. Obozo is such a PUNK.
FWIW, Obozo will be on CNBC today at about 1:00pm ET "reacting" to the bad numbers. Mitt Romney is supposed to be on CNBC at about 12:40pm ET.
That is why I put some money into Bear-Market EFTs - at noon prices of the 3 funds I own were up 5 - 6%. I stress to read carefully before deciding whether these investments are right for you. And I highly suggest covering them with stop-loss orders in case a miracle happens and the market goes on a tear.
About 15% of my investment account is in Bear ETFs - not to get rich quick, but to have some protection for what I imagined was going to happen. Be aware a Supreme Court overturn of Obamacare (due on or before June 23) could change this market’s direction in a hurry - or not.
Bravo, Bravo, my little Goebbellets!
“An oatmeal cookie to the first reporter to ask Joe Biden if this is recovery summer.”
They wouldn’t DARE risk their jobs, and gay bar popularity, asking such a politically incorrect question!
name of the EFT’s please?
There are many out there - the ones I own are all from Direxion (who have a lot of options and a web site that explains things pretty well, I think). But if you do a web search of Bull Market ETF you will certainly turn up others.
For the record, I have no association with Direxion other than holding shares in their funds.
Read carefully before investing. These investments are not suitable for everyone.
Gallup had Obama up by 3 yesterday, and there's a 4 point swing in Romney's favor, in 1 day, today... In a 7 day tracking poll, that's significant.
That's even before this pathetic jobs report.
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