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.
And Rove was there, too. I’ll bet W distracted Obama while Rove snuck into the sub-basement where the unemployment machine is located, and Rove adjusted the numbers undetected.
Excellent post!
That would almost guarantee an Obama defeat
Remember 200k lost unemployment over night in the beginning of May when the Special Fed extension was canceled. They didn’t get counted in the 8.2%. If not for the Leftist Press and their Co-conspirator’s in the education system, Nov. would be a walk over.
Excellent post!
I guess there is only so far you could cook the numbers before the you are left with ashes.
Well, Bush was at the White house yesterday.
It is going to be a rough opening today!
Can someone explain to me why the news is so biased toward Obama? I can’t understand it, how does it benefit their bottom line? All the news outlets are trying to sugar coat this story. It is so blatantly obvious and ridiculous.
More data coming out at 10:00 - construction spending and the ISM manufacturing index. If the jobs number s are an indication, the manufacturing index will not be pretty.
Expectations are not set by the media. It’s people in finance, banking, and investing. It’s reported by the media.
Y’all do understand that Obama inherited a mess when he was sworn in, right?
You may have heard him mention that a few hundred times.
I still would be willing to bet that despite what the actual numbers are, we will see 7.9% reported, probably in October.
That's an easy one. They agree with his views about the role of government, i..e, redistribution of wealth. 90% of them vote Democrat.
The KOmmies are blaming Geithner...oh, and of course Republicans. June just started and this looks like a month that will have TONS of DUFU gold including this kickoff in the pants, next week’s WI election, and the SC decisions on ObamaCare and AZ immigration law. Good thing my hand cast comes off on Monday.
Look at where the jobs did come from: healthcare added 33,000. Transportation and warehousing added 36,000. Manufacturing added 12,000. Construction shed 28,000 jobs, everything else was essentially flat.
Those aren't exactly high paying jobs. For healthcare, most of the jobs were in "ambulatory health-care services."
For trans/warehousing, the bulk came in "transit and ground passenger transportation."
We had a big article in the paper just this week about manufacturing, how it's rebound because wages are flat.
And that was just this week alone.
the Lord answers our prayers in mysterious ways....
Na na na na...
Na na na na...
O-ba-ma...
Goodbye!
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