Posted on 06/03/2011 6:22:39 AM PDT by TonyInOhio
WASHINGTON—U.S. hiring slowed dramatically in May and the unemployment rate kept rising, adding to concerns the jobs market will take years to heal as the economy remains weak.
Nonfarm payrolls rose by 54,000 last month as the private sector posted the smallest jobs gain in nearly a year, the Labor Department said Friday in its survey of employers. Payrolls data for the previous two months were revised down by a total 39,000 to show increases of 232,000 jobs in April and 194,000 in March.
The jobless rate, which is obtained from a separate household survey, unexpectedly rose to 9.1% in May from 9.0% in April. There are almost 13.9 million Americans who would like to work but can't get a job.
(Excerpt) Read more at online.wsj.com ...
Unexpectedly, of course.
Obama lied. Jobs died.
Unexpected my a$$
Could we expect another Malaise Speech, soon?
Or would that be unexpected?
Not a good way to start another “summer of recovery”.
48% of those living in this country strongly approve of this news!
Worst economy since US Grant and the Panic of 1873.
And for those of us in the real world, another vaccuous headlines where the word “unexpectedly” should be replaced with “as intended”...
The BLS has dropped 2 million people- statistically- out of the labor force in the last year.
Getting harder to fudge the numbers...
Isn't this like the third summer of recovery? Still not working!
check out zerohedge...
Birth/Death Adjustment+ 206,000!
From zerohedge.com
Take away the Birth/Death adjustment of 206,000 and the Real NFP is: -150,000. This is the biggest monthly B/D adjustment in over a year. And if as all the pundit claimed last month, demanding the McDonalds addition of 62,000 janitorial, part-time jobs be added to the May number, the economy really lost over 200,000 in May. Time to price in QE 666.
A ham sandwich would be doing better at this point. Idiocy is not learning from history and expecting a different result. And that Carnie-man WH spokesman is out there trying to spin it this a.m....and you guessed it, blaming it on the ‘inherited’ factor. No trillion $$ porkulus, trillion $$ healthcare, overegulation, not allowing Boeing to build a plan in another state, no drilling, high gas prices choking off any semblance of a beginning to recovery, Chevy Volts, solar and big rail spening projects, rising food prices. They have no idea what to do. Funny how the markets waited until 6/1 to start getting real. I’ll bet the hedgies have been building their short positions for weeks.
Were we “expecting” this unexpected development, or did it occur “unexpectedly” as the press described every other piece of bad economic news this month?
the fact that raising taxes on individuals and S-corps making over $250K is on the table as the Democrat preferred solution has absolutely NOTHING to do with this I’m sure! /sarc
“48% of those living in this country strongly approve of this news!”
For some it doesn’t matter if there is misery, as long as everyone is miserable. It’s only fair.
Time to prime the pump again with QE3!
Summer of Wreckovery III!
More like 50%+ still approve. Quite frankly, it really may be too late for this country. What passes for the "American people" is now so diluted with minority groups that vote based only on identity and victim politics that Obama's absolute base of support is almost enough for him to win.
Additionally, the US is now American Idol nation. Celebrity worship is now the rule, not the exception. The media and entertainment industry who slobber all over Obama have turned him into a cultural icon. Unfortunately, defeating Hussein's ideas are no longer enough, we have to actually beat the idea of Obama - and that just may not be possible no matter how bad the economy sinks.
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