The numbers are . . . drumroll, please! Much worse than expected. 125,000 is what was expected. 54,000 is what came in. It was thought that the unemployment rate would fall to 8.9 percent. Instead it rose to 9.1.
Hello . . . Double-dip recession.
And Goodbye . . . TO THE SECOND U.S. PRESIDENT IN A ROW TO TAKE THE TITLE AS THE WORST *EVER*. For Obama's election chances, the timing of this downturn couldn't be worse. But, you know, you reap what you sow. It takes more than a year for ANY economic adjustment to be felt by the economy, and Obama's socialistic policies both put the country on this path and kept it here. From now until at least the election (and probably long after), the economy is going to reek.
'Lousy' jobs report as recovery hits rough patch
May employment report shows pace of job growth weakening
Economy added just 54,000 jobs last month; nation’s jobless rate ticked up to 9.1 percent
msnbc.com news services
updated 3 minutes ago 2011-06-03T13:11:48
BREAKING NEWS
WASHINGTON — A key labor market report released Friday morning confirms that the pace of job growth is losing momentum.
The Labor Department said the U.S. economy added just 54,000 jobs in May, the fewest in eight months and far fewer than the 180,000 forecast for May before a report on Wednesday showed a sharp slowdown in private job growth last month.
The pace of hiring slowed sharply from the previous three months, when the economy added an average of 220,000 new jobs. Private companies hired only 83,000 new workers in May — the fewest in nearly a year, and local governments cut 28,000 jobs, the most since November.
More: http://www.msnbc.msn.com/id/43264646/ns/business-stocks_and_economy/
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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