JUNE JOBS REPORT MISSES EXPECTATIONS, UNEMPLOYMENT 8.2%

businessinsider.com ^

[Perdogg]

U.S. payrolls expanded by just 80,000 net jobs in June keeping the unemployment rate flat at 8.2 percent, new data from the Bureau of Labor Statistics shows.

[Republic Rocker]

8.2..., eyes of blue,
I need a job..., how bout you...
has anybody seen me hurl..

[TomGuy]

We are hearing more and more about the new normal with these atrocious numbers.

They can't deny them; they can't seem to improve them; so they are slowly accepting them and calling them the new normal.

[Wyatt's Torch]

The other big story is that black unemployment jumped to 14.4% up from 13.9%. Yet 95% of them will still vote for him...

[magellan]

My liver cannot take any more of these “unexpected” announcements.

[chessplayer]

Possible reactions from MSNBC, CNN, NBC, CBS, ABC, NPR.

1) Ignore it.
2) Spin it as fantastic economic news.

[skinkinthegrass]

again..
again..
again..
again..
again.. again..
and you guessed it..again..

[concerned about politics]

Drudge Report -
"Team Obama predicted 5.6% today with stimulus..."

Hmph. A trillion dollars of our money - wasted.

[theDentist]

JUNE JOBS REPORT MISSES EXPECTATIONS, UNEMPLOYMENT 8.2%

Misses expectations? that IS the expectation.

[Jane Long]

100 Million Americans un-employed

But, but, he inherited this mess caused by policies of the last two centuries.

Obamanomics....who ya gonna blame?

[Graewoulf]

Just heard Marvelous Mitt on his TV Presser.

Romney DID talk about the Labor report in his usual, really boring, monotone voice.

Romney can make watching paint dry be very exciting.

He also said that “ - - - we should have a health”care” plan that brings down the cost of health”care.” - - - “

BTW, has the Federal Government EVER brought down the cost of ANYTHING?

Wake up Romney, or you will be DUMPED in Tampa by a first ballot ABSTAIN vote!

[csmusaret]

Six and a half million Americans looking for work and only eighty thousand found a job last month. Is this the recovery our incredible shrinking President keeps bragging about? Is this what he means when he says the private sector “is doing fine”? Actually, I think this is what he meant by “fundamentally transforming America”.

[Hemingway's Ghost]

Thanks for the figures and the post.

An interesting piece on the real numbers from the WSJ here.

[Hemingway's Ghost]

Six and a half million Americans looking for work and only eighty thousand found a job last month.

Sobering, too, is that the WSJ is reporting that 189,000 people entered the labor force last month as well . . .

[Wyatt's Torch]

To be fair the 80K includes churn. Every month 400-500K people are hired and a similar amount are fired. This past month the amount hired were 80K higher than the amount fired.

[csmusaret]

And 85,000 applied for disability.

[Wyatt's Torch]

CNBC Report:

U.S. stock index futures extended their losses Friday after non-farm payrolls showed employers added less jobs than expected in June.

Non-farm payrolls rose by 80,000, according to the Labor Department, missing expectations for a gain of 90,000 jobs, according to a Reuters poll. Meanwhile, the unemployment rate remained unchanged from May at 8.2, in line with predictions.

“The economic recovery is clearly stuck in quicksand as job creation remains anemic and layoff announcements soar,” said Todd Schoenberger, managing principal at The BlackBay group. “It’s going to be an extremely difficult second half of 2012 for Americans, as employment worries rise and the household balance sheet continues to deteriorate.”

With yet another month of weak employment growth, the second quarter marks the weakest three-month period in two years, fueling optimism that the Federal Reserve will step in with additional monetary easing. Recent economic reports have been dismal with the ISM manufacturing index earlier this week indicating a contraction for the first time since 2009.

[Deo volente]

“U-6 unemployment at 14.9% - that’s 0.1% UP from last month.”

The GOP has to train itself to focus on THAT number.
_______________________________________________________________________

Someone had better tell the candidate. He’s headed off to the Olympics and a European tour.

[Wyatt's Torch]

From Business Insider:

The latest jobs report was a major disappointment, as the 80K number of net new jobs created was below the 100K that was expected, and well below any pace that will quickly reduce the unemployment number, which remains elevated at 8.2%.

And so we bring you the latest, updated version of this famous chart from Bill McBride at Calculated Risk, which shows the trajectory of the jobs decline (starting at the beginning o the recession) and the recovery, compared to all of the other post-WWII recessions.

Once again, the decline is far deeper than anything previous that we've seen, and the comeback remains bad.

[repentant_pundit]

has the Federal Government EVER brought down the cost of ANYTHING?

Nope !

On 2nd thought, they successfully crashed the cost of houses, relative to 5 years ago.

Federal legislation made dollars super-cheap to borrow for millions of unqualified buyers, which inflated house prices til the borrowers began defaulting on the mortgages.

.

[mass55th]

So when are the Obamas having their next White House party?