Jobs Report -- Without Comments
April jobs: up 69,000
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. The unemployment rate rose to 8.2 percent from 8.1
percent as people flocked into the labor market.
I know these aren't your comments. People have not "flocked into the labor market". As economist James Pethokoukis noted, the unemployment rate would be 10.9% if the labor participation rate was the same as when Obama took office.
ReplyDeleteVery, very good point. I missed that one. You are correct. Had people flocked back into the labor market, the unemployment rate would have jumped more.
DeleteThank you for catching that.