Unemployment rate ticks up after US employers create 69,000 jobs — far fewer than expected — as overall economy is averaging roughly a third of 226,000 jobs created per month in the January-March quarter.
~ Ironic the classic way Truth reports are & then there is MSM fudging numbers and/or lying. JUST in my email:
* FOX Business: Stocks are falling sharply at the open as Wall Street reacts to a horrific monthly jobs report that showed the economy added a paltry 69,000 jobs last month, way below expectations. The Dow is off 175 points, or 1.1%, oil is down sharply, and the yield on the 10-year Treasury has plunged to 1.49%.
– U.S. stock-index futures are plummeting on data showing the U.S. economy added far fewer jobs than economists expected last month. Dow futures are down 200 points, or 1.6%, while S&P 500 futures are off 2.2%.
– The Labor Department reports nonfarm payrolls rose by 69,000 in May, the fewest since May 2011 and significantly less than the 150,000 economists were expecting. The unemployment rate rose to 8.2% from 8.1%. Economists had expected the rate to hold at 8.1%.
* FOX News: Unemployment in the US rises one-tenth of a percent in May, to 8.2 percent, as sluggish economy adds only 69,000 new jobs, fewest number in a year.
* The very same news from Washington Post: U.S. economy adds 69,000 jobs in May; Unemployment rate rises to 8.2 percent. They probably didn’t want to add Unemployment rose but had to!
* WMUR: Unemployment rate rises to 8.2%
“This building, this half-a-billion dollar taxpayer investment, represents a serious conflict of interest on the part of the president and his team. It’s also a symbol of how the president thinks about free enterprise. Free enterprise to the president means taking money from the taxpayers and giving it freely to his friends.”
– Mitt Romney at a campaign appearance outside of failed California solar-panel maker Solyndra.
“I don’t want to learn how to play the game better, I want to put an end to the game playing.” – Then Sen. Barack Obama in a 2008 campaign ad attacking the head of the drug-industry lobby at the time, former Louisiana Rep. Billy Tauzin.
Blue Collar Voters Fall Away From Obama
So, Jobs Number Means Another Cruel, Cruel Summer for Obama- By Chris Stirewalt
Dozens of people line up to seek a job at the Wells Fargo call center in Salem, Ore., on Wednesday, May 30, 2012. The government reports at 8:30 a.m. EDT on the number of people who applied for first-time unemployment benefits last week. (AP Photo/Statesman-Journal, Thomas Patterson)
House Speaker John Boehner joined Mitt Romney and other Republicans in expressing concern about the bleak May unemployment report released Friday, saying “Americans are hurting.”
The report shows the fewest number of new jobs created in a year and unemployment rising to 8.2 percent, which also elicited swift criticism of President Obama by Republican leaders who hammered home their election-year message that the president has had three years to create more jobs and revive the U.S. economy — and he’s “failed.”
In the weakest recovery since the Great Depression, nearly the entire reduction in unemployment since October 2009 has been accomplished through a significant drop in the percentage of adults working or looking for work. Some of these folks returned to the labor market in May; consequently, unemployment ticked up a tenth of a percentage point.
~ It’s ALL about the Economy and Jobs Stupid!