Posted on 06/03/2011 8:31:15 AM PDT by NormsRevenge
WASHINGTON (Reuters) – Employers hired far fewer workers than expected in May and the jobless rate rose to 9.1 percent, raising concerns the economy might be stuck in a painful slow-growth mode.
Nonfarm payrolls increased 54,000 last month, the weakest reading since September, the Labor Department said on Friday. Private employment rose just 83,000, the least since last June, while government payrolls dropped 29,000.
Economists had expected payrolls to rise 150,000 and private hiring to increase 175,000. The government revised employment figures for March and April to show 39,000 fewer jobs created than previously estimated.
The job creation slowdown confirmed the economic weakness already flagged by other data from consumer spending to manufacturing, and it stoked fears the economy could be facing a more troubling stretch of weakness than had been thought.
"There are plenty of reasons to expect the third quarter will be better. But the question is now becoming how much better?," said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts.
Economists had pinned the economy's sluggishness largely on high energy prices, supply chain disruptions stemming from Japan's earthquake and tornadoes and flooding in U.S. Midwest and South. The department said it found "no clear impact" from weather on the jobs figures.
The employment report provides one of the best early reads on the health of the U.S. economy and it sets the tone for global financial markets.
U.S. stocks opened lower, while Treasury debt prices added to earlier gains and interest rate futures rose, signaling that traders believe mounting signs of economic weakness will lead the Federal Reserve to maintain an ultra-easy monetary policy.
...
The sharp slowdown in job creation is troubling news for President Barack Obama, whose chances of re-election next year could hinge on the health of the economy.
(Excerpt) Read more at news.yahoo.com ...
US President Barack Obama is pictured at the White House in May 2011. The White House said Thursday that Obama was barely paying attention to the Republican race to unseat him in 2012, as a possible foe Mitt Romney threw his hat into the ring. (AFP/Saul Loeb)
Slows sharply, eh? Just how does that work exactly?
The magic phrase is “employment growth”...
The same as “unexpectedly”. This MSM obama ball-licking clowns..
A picture is worth a thousand words:
These two cars both "slowed sharply".
Oh!....those poor firebirds!
McDonalds did not hire another 62,000 part time janitors to inflate the numbers.
Name 3 specific, measurable reasons, genius.
How in the world did that happen? Is there a story behind that pic?
Yep, since Obama has been president, the MSM does not focus on the unemployment rate. Instead, they focus on jobs created, jobs saved, and jobs related to Porkulus.
How they calculate “jobs saved” is questionable, but if the MSM doesn’t ask the questions, then made-up numbers can be fed to the world through the MSM.
Why was the unemployment rate very important when Bush was president, but now doesn’t matter now that Obama is president?
I’m thinking they were pushed. Look at the damage to both cars at both sides of the picture at the edge.
The site I got it from:
http://www.streetlegaltv.com/forum/slow-motion-head-crash-real-time-2685.html
And why it is relevant to this:
“This work of art or moving sculpture must be a hydraulic contraption with steel rails that advances two Pontiac Firebirds slowly into one another over a period of 6 days. The movement, simulating a head on collision, is so slow we’re told its invisible.”
It is what is happening to the whole world, except it is becoming more and more visible, as this still from the video quite visibly shows what has happened to the two cars.
Judging by their declining ratings and circulation figs, it ain't working. Glad I'm not a shareholder.
I see some kind of track - looks very symmetrical and intentional whatever it is -
At first glance I thought - assembly line process gone really wrong!
ROTF!
Interesting.
70s Firebirds weren’t worth a crap anyway
(ducking)
Go to the site I linked and read the comments. This thing is “art” and my favorite comment is this one:
“Someone who destroys two F-bodies like this need to kicked in the crotch over and over. Can I be first in line please?”
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