Skip to comments.Job growth slows to 54,000 in May, rate up to 9.1%
Posted on 06/03/2011 5:48:29 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) -- Job growth decelerated sharply in May, the Labor Department said Friday. Total nonfarm payrolls increased by 54,000, much lower than the 125,000 gain expected by Wall Street economists. This is the smallest increase in nonfarm payroll since September. The unemployment rate ticked higher 9.1% in May from 9.0% in the previous month.
(Excerpt) Read more at marketwatch.com ...
The markets are NOT happy. S&P down 15 points in seconds and heading lower.
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.
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!
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.
” The question is.......were they lying before or are they lying now.
I cant trust anything coming from this administration. “
If the Official (i.e. massaged, cooked, and outright fraudulent) numbers are this bleak, the Reality must be truly frightening....
U6 is at 15.8% which is down from 15.9% last month. Link. Still stubbornly high and is the "true" unemployment number not the BS headline number that excludes people that have given up looking for work.
Oh but the CBS Early Morning Show tried to put a positive spin on it this morning. I don’t know if you guys watched the 7 am - 7:10 am segment but CBS did a story on the car industry in Detroit and how we should THANK Obama for ONLY losing $14 BILLION in taxpayer money in propping up the auto industry.
How do those people sleep at night?
NBC news with Brian Williams skewered Obama last night on the economy.
Obama’s in Ohio today touting “bright spots” in the economy. I think that’s really just the glow from everything burning around him.
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.
Communists in the White House are not good for the economy. Case closed.
Hope and change.
The McDonalds hiring bump is over...