Stocks dropped sharply today, with the Dow Jones Industrial Average ($INDU -2.04%) going negative for the year, after the Labor Department said the national unemployment rate rose to 8.2% in May and payroll employment growth fell dramatically.
The economy created just 69,000 new jobs in May, down from 77,000 in April and 143,000 in March. The payroll gains were much less than the consensus estimate of 150,000. Worse, the payroll gains for April and March were cut by a total of 49,000 jobs. In a note to clients, Ian Shepherdson, chief U.S. economist of High Frequency Economics, summed up the report in three words: "This is horrible."
Muscatine
nobama unemployment up again-"horrible"!
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Stocks dropped sharply today, with the Dow Jones Industrial Average ($INDU -2.04%) going negative for the year, after the Labor Department said the national unemployment rate rose to 8.2% in May and payroll employment growth fell dramatically. Stocks dropped sharply today, with the Dow Jones Industrial Average ($INDU -2.04%) going negative for the year, after the Labor Department said the national unemployment rate rose to 8.2% in May and payroll employment growth fell dramatically. Perhaps many more will see that the pos potus has not only left the American people Hopeless but ready for a big Change from his admin. It is not just the jobs market that is in deep doo doo, but the economy has failed to grow. All his big talk is just that - talk. |
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The obumbler again blames Bush: http://www.examiner.com/article/jobs-report-unemployment-rate-back-up-to-8-2-percent-white-house-blames-bush (this is getting hilarious, isn't it?)
But, wait a minute:
Joe Biden: Obama administration–not Bush White House–owns the economy’s problems"Even though 50-some percent of the American people think the economy tanked because of the last administration, that's not relevant," the vice president said. "What's relevant is we're in charge." Biden added that he doesn't blame people who are mad at the administration, and said it is understandable and "totally legitimate" for the 2012 presidential election to be "a referendum on Obama and Biden and the nature and state of the economy." Listen to the complete audio here via WLRN.
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On the Today Show David Plouffe says Obama owns the Economy: http://www.youtube.com/watch?v=xOV3iGYa1Fw
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It’s Official:Voters Say Obama Owns Economic DisasterFriday, October 21, 2011 Two Gallup polls may hold the answer to whether Barack Obama will be re-elected in 2012. A poll Gallup released on September 21 shows that,in most Americans’eyes,President Obama owns this economy,and a second poll shows what a poor investment that is. |
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I see our local commie-libs don't have anything to offer on this revelation.
If we pass this stimulus plan we will not see unemployment above 8%!
I guess those shovel-ready projects weren't so shovel-ready.
We need to pass this health care bill to see what's in it.
I've now been in 57 states.
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