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May Jobless Rate Up As People Look For Work

From Reuters:

Job growth falters in May

Lucia Mutikani | June 1, 2012

WASHINGTON (Reuters) – Job growth in May was the weakest in a year and employers added far fewer jobs in the prior two months than previously reported, suggesting the economic recovery was faltering.

Employers created a paltry 69,000 jobs last month, the Labor Department said on Friday, the fewest since May last year. Economists polled by Reuters had expected nonfarm payrolls to increase 150,000.

In addition, employers added 49,000 fewer jobs than previously estimated in March and April.

In other words, just as we predicted, the last two months jobs numbers were quietly revised for the worse. Just as they always are.

In fact, the previously reported March jobs number was revised down by 11,000. And April ‘s was revised down by a whopping 38,000.

The unemployment rate rose to 8.2 percent from 8.1 percent as people flocked into the labor market.

This is the new ‘big lie.’

While unseasonably warm weather that brought forward hiring into the winter months has been blamed for the step back in March and April, the latest report hinted at more fundamental weakness in the economy…

Really? It isn’t all the fault of global warming?

Economists have blamed Europe’s prolonged financial crisis and slowing Chinese growth for sluggish factory activity in May, which has evoked memories of the slackening of job growth in the summer of 2011 when the recovery nearly stalled.

So now we have a new set of ‘headwinds’?

However, a survey of households showed stronger employment gains. While the unemployment rate rose as new job seekers flooded into the labor force

That is a sentence George Orwell would admire.

The labor force participation rate – the share of working-age Americans who either have a job or are looking for one – rose to 63.8 percent after dropping to a 30-year low in April

Notice how we only ever hear about the labor force participation when the news media can blame it for bad news. We never heard about it when it was driving down the unemployment rate artificially.

From the Associated Press:

US economy added 69K jobs in May, fewest in a year

By CHRISTOPHER S. RUGABER | June 1, 2012

WASHINGTON (AP) — U.S. employers created 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up. The dismal jobs figures could fan fears that the economy is sputtering.

Sometimes you have to think that Mr. Rugaber is bi-polar.

The Labor Department also says 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

Mark you calendar. The AP actually acknowledged a revision!

And they quickly turn to their top concern:

Weak job growth could damage President Barack Obama’s reelection prospects. Mitt Romney, the Republican challenger, has made the economy the central theme of his campaign…

Speaking of their work for the Obama campaign, here are the headlines and leads from from these same two reporters from just a few hours ago.

First from Reuters:

Job growth seen stepping up in May

By Lucia Mutikani | June 1, 2012

WASHINGTON (Reuters) – Jobs growth probably snapped back in May from weather-related distortions that had slowed hiring, suggesting the economy was still expanding moderately despite strong headwinds from Europe

From the same always dependable Charles Rugaber at the Associated Press:

US hiring likely modest for 3rd straight month

By CHRISTOPHER S. RUGABER | June 1, 2012

WASHINGTON (AP) — U.S. companies likely hired at a modest pace in May for the third straight month, underscoring the slow but steady nature of the recovery

And our media guardians do this week after week, and month after month.

This article was posted by Steve on Friday, June 1st, 2012. Comments are currently closed.

4 Responses to “May Jobless Rate Up As People Look For Work”

  1. mr_bill says:

    How ironic: The media ignores the real underlying issues contributing to the unemployment number being artificially low. They present a false narrative to prop up nerobama and make the economy seem better than it actually is. They lie about the amount of hiring going on and apparently there are people out there who still believe the dreck served up as “reporting.”

    The ironic bit is that those who believe the news are re-entering the search for work, only to find the media’s tales of increased hiring are not true. Their re-entry into the search for work is driving up the unemployment rate to where it would reasonably be without the chicanery employed by the number crunchers falsifiers. The compliant media stenographers are actually causing the unemployment numbers to look worse for nerobama and hurt his re-election bid. Surely they would cry if they knew their lies had come home to roost.

    • Rusty Shackleford says:

      Well, we knew they were gonna do this two years ago to get the UE numbers below 8% in order to validate dipsh*t’s claim and justification for the stim-u-loss.

  2. dasher says:

    Good point re: the folks reentering the workforce Mr. Bill.

    One thing I think I’m going to try and work on is VP Biden’s claim about the stimulus fund creating however many new jobs a month he said it was going to create…500,000? I’m going to track how many jobs have been created each month since then. Gosh, if only VP Cheney had made such a claim, we’d still be hearing about it from the MSM!!

    D.

  3. P. Aaron says:

    Either blaming the weather or Bush…that’s the narrative.


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