« | »

Unemployment Up To 9.2% As ‘Hiring Stalls’

From an apparently shameless Associated Press:

Unemployment rose to 9.2 percent as hiring stalls

WASHINGTON (AP) — Hiring slowed to a near-standstill last month. Employers added the fewest jobs in nine months and the unemployment rate rose to 9.2 percent.

Coincidentally, in May employers added the fewest jobs in eight months. And even that number has now been revised down by almost half. (See below.)

The Labor Department says the economy generated only 18,000 net jobs in June.

And the number of jobs added in May was revised down to 25,000.

Which means employers actually hired only half the number of workers reported last month (54,000). So May’s jobless number was probably 9.2%, too.

High gas prices and supply-chain disruptions stemming from the Japan crisis and the weak housing market have slowed the economy. Average hourly wages declined last month…

Oh, give it a rest, AP.

Businesses added the fewest jobs in more than a year. Governments cut 39,000 jobs.

Despite all the claims from the private payroll company, ADP. Who seem to make it their business to put out preposterously optimistic jobs reports.

Yesterday, the AP and the rest of the news media were, once again, only too happy to tout ADP’s absurdly rosy report as fact.

Indeed, here is just a small sample the other headlines from yesterday:

Two Jobs Reports Point To a Higher Gain in June
New York Times – Christine Hauser – ‎21 hours ago‎
ADP said its survey showed that the private sector added 157000 jobs in June. Economists surveyed by Bloomberg had forecast that the ADP report would show 70000 jobs for June. “I would characterize those as fairly modest gains in employment,” said …

Strong ADP Jobs Report Boosts June Jobs Outlook
Wall Street Journal – ‎Jul 7, 2011‎
By Dave Kansas AP This morning’s stronger-than-expected ADP jobs report is prompting some rethinking of what to expect from Friday’s official June payrolls report, due out tomorrow morning. Ian Shepherdson, High Frequency Economics: The ADP report …

ADP Jobs Report Indicates Solid Growth in US Employment
Forexyard  – Greg Holden – ‎Jul 7, 2011‎
Forecasts for this month’s employment data were still for a near-doubling of last month’s reading, but the surprise jump to 157000 new jobs added in the private sector gave a moment of pause for pessimists who doubted America’s resurgence would happen …

Jobs numbers rise
The Province – ‎4 hours ago‎
Payrolls processor ADP said Thursday private sector employment increased 157000 after a modest 36000 gain in May, and beating economists’ expectations for a 68000 rise. Stocks in Wall Street rose on the data, while government bond prices fell. …

US private-sector jobs jump by 157000
Financial Times – Johanna Kassel – ‎Jul 7, 2011‎
The outlook for the US labour market brightened on Thursday as data showed that the number of people added to private-sector payrolls more than quadrupled in June from May, according to the monthly ADP employment report. …

Private payrolls rise by 157000 in June: ADP
MarketWatch – Greg Robb – ‎Jul 7, 2011‎
Read ‘US requests for jobless benefits decline’ According to the ADP report, employment in the service-producing sector rose 130000 in June, after a 46000 gain in May, according to ADP. Employment in the goods-producing sector rose 27000 after a drop …

US Private Sector Adds 157K Net Jobs In June, Beating Expectations: ADP
Huffington Post – Leah Schnurr, Padraic Cassidy – ‎Jul 7, 2011‎
US private employers added far more jobs than expected in June, bouncing back from a surprise slump the month before, a report by a payrolls processor showed on Thursday. The private sector added 157000 jobs last month, exceeding expectations for a …

Alas, the news media and the rest of the Democrat Party are finding out that it is easier to talk us into a recession than out of one.

This article was posted by Steve on Friday, July 8th, 2011. Comments are currently closed.

5 Responses to “Unemployment Up To 9.2% As ‘Hiring Stalls’”

  1. Right of the People says:

    I’m shocked I tell you shocked! VP Bite Me promised we’d be adding 500K jobs per month. How did this happen? It’s a complete surprise.

  2. Liberals Demise says:

    You have got to focus dingleBarry and follow the advice of your Top Adviser,
    “Jobs are not key in 2012”.
    It’s not the economy stupid!! Now…….go play golf and don’t worry about your daughters down time with you. You’re a busy man!!

  3. proreason says:

    As a reminder to non-regulars…real unemployment is still over 20%, close to where it was in the 1930’s.

    The 9.2% is the fed-manipulated number. A more accurate fed number is 16.2%, which represents the unemployed plus partially employed who are stilling looking for work. Note: still looking for work means that it doesn’t count the millions who have given up, the formerly self employed who never hit the unemployment rolls, and seniors, mothers, and youngsters who aren’t counted in any tally.

    The only reason that you don’t see breadlines like during the 1930’s is that the gangster government is forcing your children to buy food and necessities for Obamy’s voters with their (and your) future earnings.

    The real shit hits the fan later, when those bills come due.

    • heykev says:

      Appears that those will be due in 2013. That when most of the tax hikes, fees and miscellaneous increases associated with Obamacare will come due. IE: letting the Bush Tax decrease expire, reinstating other taxes, etc….all thanks to those Democrats who controlled Congress last year.

      With that coupled with many states finances resembling Greece and Portugal, it will make for an interesting time. We have said it many times here, but it is worth repeating. The 2012 elections hold the key to America’s future. We will either become a debtor nation and continue our decline. Or, providing the Republicans who are elected develop a backbone – something most have no idea what it is…we maybe able to reverse the we are headed on.

      God help us….

    • proreason says:

      Nov 2012 is the cliff.

      Either we go over it and become serfs for the next 100+ years….or resume the high-risk life of 21st century America, in which it’s conceivable that you may have to give up cable tv and accept limited minutes on your iphone plan if you screw up enough.

      Tough decision, isn’t it?

« Front Page | To Top
« | »