MarketWatch First Take
June 1, 2011, 10:24 a.m. EDT
Will the economic slump last?
Commentary: Some of this is temporary, but major tests loom
By MarketWatch
WASHINGTON (MarketWatch) — The headwinds holding back the U.S. economy are getting stronger.
Most of the economic data released in the past month have been disappointing, to say the least.
The latest reading on the labor market from payroll provider ADP shows job growth weakening as the summer approaches, with just 38,000 private-sector jobs created in May. If you recall that government employment is declining by almost that much every month, the ADP report implies only a very small increase in total employment. Read our full story on the 38,000 increase in the ADP employment report.
This is no way to get the unemployment rate down from 9%.
Full story: http://www.marketwatch.com/story/will-the-economic-slump-last-2011-06-01
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