US Creates 69,000 New Jobs, Unemployment Rate 8.2% (Up from 8.1%)

CNBC.COM ^ | 6/1/12 | Jeff Cox

[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.

[NE Cons]

Absolutely pathetic numbers overall. Markets are tanking

[NE Cons]

In addition, there were significant revisions downward from the past 2 months.

ALL smoke and mirrors from the current regime

[Gaffer]

What this means that the real numbers are much, much worse. So bad that even the big government/MSM lie-machine could pull of this kabuki unemployment scam any longer.

[scooby321]

This is another summer of recovery?

[NE Cons]

But they'll surely try

-49,000 in revisions from Mar and Apr!

[God luvs America]

April’s jobs report revised DOWNWARD 38,000 jobs, March DOWNWARD 11,000...

[Rational Thought]

Can't wait to hear the Obama administration's spin on this....”Bush's Fault”......

[NE Cons]

Biden’s 500,000 a month during summer. Oh wait, that was last summer. Or the summer before... Pathetic.

[apillar]

Things must be getting really bad, even with Obama’s Labor Department massaging the numbers and simply dropping millions from the universe of workers, the rate still ticked up. Of course without that massaging it would have probably jumped to 8.5%...

[God luvs America]

watching CNBC- they look like they want to commit suicide...dow futures down 195pts...

expectations were 150,000 jobs...

[LRoggy]

ANYONE who votes for this clown again needs to be lobotimized

[Arm_Bears]

Well, Bush was in the White House yesterday.

Coincidence?

[F15Eagle]

Of truth do ye speak. They're afraid of spooking everything and everybody so they keep cooking these books. Along with the nitwit lemmings of the MSM.

[apillar]

I think it's time for Obama to put on a sweater and give a Jimmy Carter “Malaise” speech...

[God luvs America]

CNBC talking about not only how bad the report is but how the revisions from the past two months show the trend....they then sadly noted how this is going to hurt obama’s re-election chances- BOO HOO...

[Gasshog]

if all else fails blaming Blown will rally the rat troops.

have a nice fall over the edge into abyss.

[NE Cons]

The ONLY guy that tells it like it is, is Rick Santelli. Everyone else, including the "money honey" is a disgrace.

Loving their reaction, but taking a bath in my 401k.

[Gasshog]

if all else fails blaming Boosh will rally the rat troops.

have a nice fall over the edge into abyss.

[Rational Thought]

Thanks for that....I needed the laugh......

[MIchaelTArchangel]

Obama AND the Democrats are presiding over JOB DESTRUCTION. He is a far-left type who wants to recreate in the United States the economic situation in Russia in 1917.

[Roccus]

This is another summer of recovery?

More a summer of wreckovery.

[jimbo123]

Sounds like its time for another luxury Hawaiian vacation for the occupants of the White House.

[God luvs America]

ditto here- but i’m not retiring soon....buying opportunity...

[No Truce With Kings]

“Can’t wait to hear the Obama administration’s spin on this....”Bush’s Fault”......”

Well . . . isn’t Bush’s birthday this month or next? That’s reason enough to for The WON to blame Bush for the bad job numbers.

[SoFloFreeper]

WHO is stupid enough to expect 150,000 jobs? The morons in the media, already in the frickin’ tank for Obamugabe?

[magellan]

"What this means that the real numbers are much, much worse. So bad that even the big government/MSM lie-machine could pull of this kabuki unemployment scam any longer"

Post of the day. Spot on.

Obama has been faking the U3 numbers so long eventually there was nothing left.

The idea of the unemployment rate going up in May is on its face, absurd. Construction and other outdoor jobs should be increasing, while high school and college students have not yet fully entered the summer jobs market.

[M Kehoe]

69,000 jobs, divided by 50 states (there are 50 states 0bama), equals 1,380 jobs per state. Pathetic.

5.56mm

[Eye of Unk]

It won’t be long before the grass roots order will be given to reactivate the economy. The time of shutdown protest over the election of Obama will be ending soon.

But before it will occur it must be established that any improvements will not be credited to Obama.

Its bee tough the last couple of years having to perform a patriotic protest of the illegal election by doing everything, anything everywhere to throw a monkey wrench into the economy. In the end when Obama is gone America will remember, never again will white guilt make our decisions.

[Reo]

"Can't wait to hear the Obama administration's spin on this....”Bush's Fault”......"

Well he was back in the White House yesterday.

[PJ-Comix]

An oatmeal cookie to the first reporter to ask Joe Biden if this is “recovery summer.”

[M Kehoe]

Oh, and next month that figure will be revised DOWN.

5.56mm

[Mad Dawgg]

"Can't wait to hear the Obama administration's spin on this....”Bush's Fault”......"

Nah, instead he'll say something Like "The economy is faltering because Congress won't pass my budget." and all the MSM monkeys will nod and agree and report it as fact.

[Former Proud Canadian]

Biden has been removed from the scene for now:

http://www.freerepublic.com/focus/f-news/2889044/posts

[magellan]

From the article:

"Construction took the biggest hit, dropping by 28,000 for the month."

This is especially troubling. Construction jobs should be increasing in May.

Did I miss something? Were there any large scale weather events in May which killed construction jobs?

[Roccus]

Can't wait to hear the Obama administration's spin on this....”Bush's Fault”......

HEADWINDS

[Errant]

[PogySailor]

Look over there! Bain Capital! - Jay Carney

[citizen]

See?? George Bush sets foot back in the White House yesterday and unemployment goes back up today.

Coincindence? I think not. /s

[ScottinVA]

Your Honor...

Counsel presents Evidence Item #1... the regime has failed.

[Oldeconomybuyer]

NEW YORK (AP) — U.S. stock futures are plummeting after the release of a report on the job market that was far weaker than economists expected.

Dow Jones industrial average futures, which were down 100 points before the report came out at 8:30 a.m. EDT Friday, shot down an additional 100 points within minutes.

[ScottinVA]

ANYONE who votes for this clown again needs to be lobotimized

Impossible!!! They already WERE lobotomized!

[PJ-Comix]

The DUmmies are bummed out by this latest report.

[NE Cons]

EXCELLENT! Love it

[Hojczyk]

Nothing will change until after the election...TJ Rogers said it on Kudlow business is not going to invest until Obama is gone...2012 or 2016...

[TonyInOhio]

JimPethokoukis: Recession Watch: When you have a year of sub-2% GDP growth like in 2011, recession follows within a year 70% of time

[babble-on]

pretty dismal.

I’m happy because it means Obama is going to be down in the polls, but unhappy for what it means to people looking for work.

[Lovely-Day-For-A-Guinness]

President Trayvon should lobby to re-open all those “Polish Death Camps” so that all the unemployed “corpse men” can get back to work!

[GlockThe Vote]

ABO DAMNIT!

This country is going to implode if this freakshow continues any longer.

[TonyInOhio]

Jonah Goldberg: Obama responds to jobs numbers: This just shows the GOP war on women and birth control has taken a terrible toll. Oh, and Bain!!

[Errant]

It's going to be a long day - Not...