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Title: US Economy Added 69,000 Jobs In May, Fewest In A Year; Unemployment Rate Rose To 8.2 Percent
Source: Associated Press
URL Source: http://www.newser.com/article/d9v4d ... t-rate-rose-to-82-percent.html
Published: Jun 1, 2012
Author: Associated Press
Post Date: 2012-06-01 11:23:33 by Brian S
Keywords: None
Views: 2422
Comments: 5

The U.S. economy suddenly looks a lot weaker.

U.S. employers created only 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up.

The dismal jobs data will fan fears that the economy is sputtering. It also puts President Barack Obama on the defensive five months before his re-election bid. And it could lead the Federal Reserve to take further steps to help the economy.

The Labor Department also said Friday that the economy created far fewer jobs in the previous two months than first thought. It revised those figures down to show 49,000 fewer jobs created. The unemployment rate rose to 8.2 percent from 8.1 percent in April, the first increase in 11 months.

Job creation is the fuel for the nation's economic growth. When more people have jobs, more consumers have money to spend _ and consumer spending drives about 70 of the economy.

___

Here's what The Associated Press' reporters are finding:

___

SEEKING SOLUTIONS

What can be done to energize U.S. hiring?

Sung Won Sohn, an economics professor at California State University, said Congress and the Obama administration must work immediately to address the "fiscal cliff" looming at year's end. That's when the economy will be hit with higher taxes and across-the-board government spending unless Democrats and Republicans forge some compromise.

Uncertainty over what will be done about the fiscal cliff will likely hang over the U.S. economy for months.

"Businesses have pulled in their horns, given the growing amount of uncertainty," Sohn said.

He said Federal Reserve Chairman Ben Bernanke could also start discussing another round of Fed bond buying to try to further lower long-term interest rates.

Sohn noted that more bond buying remains unlikely given how low rates are already. Still, he said, "just the fact that Bernanke is talking about more Fed bond buying would be important. What we need is a psychological lift."

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#1. To: Brian S (#0)

The U.S. economy suddenly looks a lot weaker.

Holy CRAP, you actually posted the TRUTH!!!!!!!!

Who'd have thunk it???

LoonyMing: I brandish my ignorance like a crucifix at vampires.
Translation: IGNORANCE IS STRENGTH

'It's now very common to hear people say, "I'm rather offended by that", as if that gives them certain rights. It's no more than a whine. It has no meaning, it has no purpose, it has no reason to be respected as a phrase. "I'm offended by that." Well, so fucking what?' —Stephen Fry

Capitalist Eric  posted on  2012-06-01   11:59:23 ET  Reply   Trace   Private Reply  


#2. To: Capitalist Eric (#1)

Even I don't have enough lipstick to dress up todays 'pig'...

I hoping they are sanding bagging these numbers in order to show huge gains starting in August. Time will tell.

Never swear "allegiance" to anything other than the 'right to change your mind'!

Brian S  posted on  2012-06-01   12:57:05 ET  Reply   Trace   Private Reply  


#3. To: Brian S (#2)

Even I don't have enough lipstick to dress up todays 'pig'...

LMAO! I wasn't expecting THAT for a response...

I hoping they are sanding bagging these numbers in order to show huge gains starting in August. Time will tell.

They aren't. The downward spiral continues, and everyone is recognizing reality.

If the MSM won't start talking about the obvious, they'll lose whatever vestigial cred they still have.

LoonyMing: I brandish my ignorance like a crucifix at vampires.
Translation: IGNORANCE IS STRENGTH

'It's now very common to hear people say, "I'm rather offended by that", as if that gives them certain rights. It's no more than a whine. It has no meaning, it has no purpose, it has no reason to be respected as a phrase. "I'm offended by that." Well, so fucking what?' —Stephen Fry

Capitalist Eric  posted on  2012-06-01   14:10:01 ET  Reply   Trace   Private Reply  


#4. To: Brian S, Capitalis Eric (#0)

And the government also just revised downwards Marchs job creations by 11,000 and Aprils by 44,000...... so that's another 55,000 people without jobs.....

And the funny part is the Obozo commercial currently showing on network TV saying he has created over 4.5 million jobs..... ROTFLMMFAO

Leftardism/Liberalism: The chickenschitt way to deal with life’s problems by creating solutions to problems that don’t exist, thereby creating a problem where none existed before and then having to find a solution to that one…

CZ82  posted on  2012-06-02   9:54:47 ET  Reply   Trace   Private Reply  


#5. To: Brian S (#0)

Sung Won Sohn, an economics professor at California State University, said Congress and the Obama administration must work immediately to address the "fiscal cliff" looming at year's end. That's when the economy will be hit with higher taxes and across-the-board government spending unless Democrats and Republicans forge some compromise

There was a bi-partisan plan -- the recommendation from Obama's own deficit commotion.

Obama ran away from it like a coward.

Obama is not interested in fiscal discipline. He is only interested in larding up the government dole with as many freeloaders as possible.


we must as a species go into a period of shrinkage that we have not experienced since the Dark Ages and the Black Plague -- lucysmom (A.K.A. minnigold)

jwpegler  posted on  2012-06-02   13:40:44 ET  Reply   Trace   Private Reply  


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