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June 01, 2012

BREAKING: Recovery Summer Part III Off To A Rocky Start. Unemployment Inches Up, Job Creation Unexpectedly Lower Than Expected

8.2 unemployment rate (wink, wink) only 69.000 jobs created in May.

Analysts were "expecting" a job creation number of around 150,000 (which would have been pathetic itself). Missed it by thaaaaaaaaaatttttttttt much.

Expect more to come shortly.

April's job number was revised down to 77,000. Unexpectedly.

More "unexpected" revisions:

BLS: employment for March was revised from +154,000 to +143,000, and the change for April was revised from +115,000 to +77,000.

Labor force participation was up by 642,000.

Construction jobs down 28,000.

Not even Obama's favorite "independent economist" Mark Zandi can spin this disaster. "There's nowhere to hide on this one".

More numbers will be teased out but the bottom line is....disaster. Disaster for the economy and Obama.

Keep this in mind when you hear idiots chanting "Four more years!" at Obama rallies. Who the hell wants four more years of this?

Five More Months!


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posted by DrewM. at 08:35 AM

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