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The unemployment rate that counts discouraged workers rose as well, swelling to 14.8 percent form 14.5 percent in April.
Long-term unemployment also took a sharp upturn, with the number of those out of work for 27 weeks or more jumping from 5.1 million to 5.4 million. The average duration of unemployment moved from 39.1 weeks to 39.7 weeks.
"It's painfully obvious the economic recovery in the U.S. isn't just slowing down, it's pulling up the emergency brake. And, lack of job creation isn't the only critical concern. Wages/Income is sharply lower," said Todd Schoenberger, managing principal The BlackBay Group in New York.
it's pulling up the emergency brake
The bulk of the employment gains came from the service sector, which added 84,000 jobs, while manufacturing grew 12,000. Government shaved 13,000 jobs, including 5,000 at the federal level. Private payrolls rose 82,000.
"Government is the lender and spender of last resort in this economy," said Doug Roberts, managing principal for Channel Capital Research. "There is no priming the pump, and as government stimulus wears off the economy starts to slow down again."
Originally posted by Eurisko2012
More bad news for Obama. His policies have all failed.
- CNBC Job Growth Report -
The April Job Growth Report was 115,000 ! We are going the wrong way! - Down -
------May Job Growth Report is only 69,000 ! -----
Unemployment rate - climbs - to 8.2%.
---------
Call Hillary! It's over!
Fire VP Joe Biden!edit on 1-6-2012 by Eurisko2012 because: (no reason given)
Originally posted by jimmyx
Originally posted by Eurisko2012
More bad news for Obama. His policies have all failed.
- CNBC Job Growth Report -
The April Job Growth Report was 115,000 ! We are going the wrong way! - Down -
------May Job Growth Report is only 69,000 ! -----
Unemployment rate - climbs - to 8.2%.
---------
Call Hillary! It's over!
Fire VP Joe Biden!edit on 1-6-2012 by Eurisko2012 because: (no reason given)
obama failed!! (3 millionth time i have heard that)...shocker that i here that coming from the right...i'm just shocked, i say!!
Government shaved 13,000 jobs, including 5,000 at the federal level. Private payrolls rose 82,000.
Originally posted by jimmyx
obama failed!! (3 millionth time i have heard that)...shocker that i here that coming from the right...i'm just shocked, i say!!
Originally posted by OccamsRazor04
Originally posted by jimmyx
obama failed!! (3 millionth time i have heard that)...shocker that i here that coming from the right...i'm just shocked, i say!!
How about you hear it from the center too, I consider myself independent and do not like Dem or Rep. Obama failed, miserably, he is perhaps the biggest politician ever elected into office and one of the worst presidents of all time.
Originally posted by rebellender
Today Mr POTUS said "Our economy isnt growing as fast as we would like."
Originally posted by Alxandro
Originally posted by rebellender
Today Mr POTUS said "Our economy isnt growing as fast as we would like."
It's interesting how he uses the word "we" when things AREN'T going so well,
yet he never hesitates to say "I" when they ARE.
Originally posted by zroth
It is amusing that simple people blame the president of one nation for this issue.
Corporations are multinational.
How does one nation ensure growth in their country when the corporation is global?
Originally posted by Eurisko2012
Originally posted by zroth
It is amusing that simple people blame the president of one nation for this issue.
Corporations are multinational.
How does one nation ensure growth in their country when the corporation is global?
Obama ignored the economy and focused on throwing ObamaCare at us.
ObamaCare is about to be flushed down the toilet by the Supreme Court.
--------
Now that the election is in 5 months Obama suddenly wants to work on the
economy because it's making him look like a failure.
Originally posted by zroth
Originally posted by Eurisko2012
Originally posted by zroth
It is amusing that simple people blame the president of one nation for this issue.
Corporations are multinational.
How does one nation ensure growth in their country when the corporation is global?
Obama ignored the economy and focused on throwing ObamaCare at us.
ObamaCare is about to be flushed down the toilet by the Supreme Court.
--------
Now that the election is in 5 months Obama suddenly wants to work on the
economy because it's making him look like a failure.
With all due respect, you are in the weeds.
Obama cannot control the decisions that global corporations make about their workforce in any one nation.
It is not up to America anymore. Apple, HP, IBM, Pfizer, etc; can employ people where ever they like.
Evolution --> Church control, bank control, corporate control.
How does the president control job growth?
People need to wake the f*** up.
The illusion is localized to maintain a seperatized citizen base. Religion, gender, orientation, political allegiance are all tools used in a local geography to distract you from a global perspective.
Nations are gone. Multinationals are the modern day continent and border.
Peace