Unemployment increases to 9.1%

www.marketwatch.com...

WASHINGTON (MarketWatch) — In disappointing news for the White House, Wall Street and Main Street, U.S. job gains slowed to a crawl in May and the unemployment rate moved higher, the Labor Department estimated Friday.

Nonfarm payrolls rose by a seasonally adjusted 54,000 in May. This is the smallest gain since September and a fraction of the 125,000 jobs expected by economists polled by MarketWatch.
That forecast had been cut in recent days as economists grew pessimistic after a string of disappointing data this week. Just a few days ago, economists were expecting jobs growth of 175,000 jobs in the month.

The official unemployment rate increased to 9.1% in May from 9.0% in April. This is the highest unemployment rate since December. Economists were expected a slight drop in the jobless rate to 8.9%.

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Cant say I didnt see this coming. Not to mention some people, such as marginally attached workers, underemployed, and discouraged workers are not counted in the "official" unemployment.

On June 1st, stocks tumbled, and the manufacturing industry hits its lowest amount of production per month since 1984.

My question is, is the government even doing anything about the unemployment situation anymore?

Edit- Just to add a few interesting parts of the article.

“The deceleration in employment growth, together with a string of disappointing results on other indicators, calls into question the sustainability of the recovery,” said David Greenlaw of Morgan Stanley.

Yeah...of course the "recovery" is questionable.

Remember the Mcdonalds hiring spree earlier?

There was no sign that hiring at McDonald’s boosted payrolls. Food and drinking employment rose by 13,600 jobs in May after adding 28,000 workers in April.

This is not good news at all, and I think this is important information for those on the fence about whether we are actually in a recovery or not. I also think however that people are just tired and or used to the negative news at this point and no longer care. When you are in a recovery you do not have higher unemployment numbers, they either remain stable or decrease.
I think the worst thing about this news is that it came so early in the year. Wait till this fall when all the seasonal help gets cut. 10%+ unemployment here we come!

It's getting harder and harder for Obama to twist this into a positive and with the elections coming up soon he is headed for some rough water.

He will claim of course that it would have been much worse if it wasn't for his policy's, which is unprovable, but even that will start getting real thin with people if they don't get work soon.

Good news for republicans but bad news for the country.

Someone should start creating some jobs.

Also got to mention that corporations have been making their highest profits ever.

Also, isnt todays unemployment higher than it was during the "great recession"?

Originally posted by Rockdisjoint
Someone should start creating some jobs.

Or the government should make living without an income possible by laying off taxes, regulations and licensing.

Try being a non profit farmer for self subsistence. Sooner or later the gov comes for its share or to cluck its tongue at something you're either doing or not doing.

Originally posted by buni11687
Also got to mention that corporations have been making their highest profits ever.

Also, isnt todays unemployment higher than it was during the "great recession"?

The great depression was at 25%

Probably a bit higher than that actually.

this is just numbers gaming & politics...
if the pre-presidential race figures are made as dismal as they wish,

then Øbama campaign strategists want to have the state of the unemployed and such get much improved as the voting date nears.
~see, for all summer ...these rigged numbers to begin with ... will stay below 9.5%

9.5% is acceptable (but it really much higher according to 'shadowstats.com'
so the job creation & birth/death models will get tweeked for the masses until the race gets into higher gear...
see, they will keep the 'proof' of an improving economy in the bag until needed... just like they announced the OBL killing at an opportune time for the administration...

(do you see how the unemployment rises as the stock market goes down... is this timing or what?

reply to post by kro32


Not the great depression, the great recession (thats what they called it) of 2008-9

Do you think Benny can artificially maintain the economy until the election?
We have, what? 16 months, Then, Barry gets re elected, i think.
and after that, i might start to pray again.