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.
Impossible!!! They already WERE lobotomized!
The DUmmies are bummed out by this latest report.
EXCELLENT! Love it
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.
President Trayvon should lobby to re-open all those “Polish Death Camps” so that all the unemployed “corpse men” can get back to work!
ABO DAMNIT!
This country is going to implode if this freakshow continues any longer.
Abject disaster of a report. 10Y UST yields down to 1.47% in a flight for safety. U6 also increased. “Nowhere to hide” on this report.
Also QE3 is all but a guarantee now...
What continues to effect construction is the fact that small to medium size builders can not get a loan now.
They do not have the bank line they had 2-4 years ago. So even if they have projects to build, they can not start them because of lack of credit. This trickles down to less construction jobs.
The only companies that are getting financing are the large companies building multifamily and elderly housing projects.
This is why the starts numbers have been a much higher percentage of those type of buildings.
Even that 69,000 figure is laughable. They pumped the number via their Birth/Death modeling +204,000 jobs. Last month it was +206,000.
http://www.bls.gov/web/empsit/cesbd.htm
GOOD! I hope the Dummies are hit hardest!
“Look over there! Bain Capital! - Jay Carney:
LOL! Todays Press Conference (if not already cancelled) will be epic.
Hey ‘Wrongway’ Obama you are running with the ball in the wrong direction..AGAIN!
Who’s team are you on you dufus?!
The evolution of Obama’s view on marriage is going to have to go all the way to polygamy to take the focus off this mess.
Carney will point out that since we’re losing hundreds of thousands of millionaires, we don’t really need all those jobs.
Exellent graph. Romney and conservatives across the country should use something like that, in their races
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