U.S. economy creates a scant 38,000 jobs in May; report may sway Fed interest rate decision

[Willie99]

the economic malaise continues

congratulations MR President, you're going to accomplish something no other President ever has

8 years with no economic growth, 8 years of poor jobs growth, 8 years of poor wage growth, 8 years of stagnant wealth

and if the LPR you inherited remained constant, 8 years of high unemployment numbers too

keeping the poor poor, and hurting the middle class, a democratic tradition















fucking idiots

 

[Willie99]

the only president to not have at least one good year, how pathetic is that?

 

[Dave007inVegas]

the economic malaise continues

congratulations MR President, you're going to accomplish something no other President ever has

8 years with no economic growth, 8 years of poor jobs growth, 8 years of poor wage growth, 8 years of stagnant wealth

and if the LPR you inherited remained constant, 8 years of high unemployment numbers too

keeping the poor poor, and hurting the middle class, a democratic tradition















fucking idiots

How can that be?


Obama quote:


"The primary story that Republicans have been telling about the economy is not supported by the facts. It's just not." "They repeat it a lot, but it's not supported by the facts. But they say it anyway. Now what is that? It's because it has worked to get them votes."

 

[ScottL]

the only president to not have at least one good year, how pathetic is that?

Yeah but also the only president to hold a Beer Summit. How great is that?

 

[Willie99]

Yeah but also the only president to hold a Beer Summit. How great is that?

maybe the only one who dealt drugs too

he does have some redeeming qualities I suppose

 

[Acebb]

Recovery summer!

 

[roadreeler57]

Im no expert but seems like the interest rates have been too low way too long....When I got my 1st 30 year mortgage in 1978 my interest rate was 10 1/2 %

 

[SheriffJoe]

Liberal economics:

"new jobs created" = burger flippers soon to be replaced by robots.

face)(*^%

 

[Willie99]

remember the "Summer Recovery Tour"?

the things these idiots do and say, they know their base well

 

[ScottL]

remember the "Summer Recovery Tour"?

the things these idiots do and say, they know their base well

The "Reset" Button. That's going well too. Russia has reset. They're annexing territory and shooting passenger planes out of the sky.

 

[guitarjosh]

If the current trend continues its trajectory, we'll lose jobs in June.

 

[vitterd]

what exactly are those congressional republicans doing? They promised all these jobs if they were in control.

 

[The Guesser]

This always Wrong idiot, and evidently incompetent Business owner, was starting Bush Boom Threads in 2008 when the Economy was losing jobs every month, in addition to all the other parts of the economy tanking. Excerpt of chart is thousands of jobs gained or lost per month.

2008	19	-86	-78	-210	-185	-165	-209	-266	-452	-473	-769	-695

fucking idiot.

 

[Coldweather]

This not be good at all! :youmad:

 

[vitterd]

This always Wrong idiot, and evidently incompetent Business owner, was starting Bush Boom Threads in 2008 when the Economy was losing jobs every month, in addition to all the other parts of the economy tanking. Excerpt of chart is thousands of jobs gained or lost per month.

2008	19	-86	-78	-210	-185	-165	-209	-266	-452	-473	-769	-695

fucking idiot.

He has been wrong for years and years......just like the Canadian Con Man.....but it never stops them. They just keep coming back with the same bullshit

 

[superbeets]

This always Wrong idiot, and evidently incompetent Business owner, was starting Bush Boom Threads in 2008 when the Economy was losing jobs every month, in addition to all the other parts of the economy tanking. Excerpt of chart is thousands of jobs gained or lost per month.

2008	19	-86	-78	-210	-185	-165	-209	-266	-452	-473	-769	-695

fucking idiot.

 

[superbeets]

Hiring by US employers slowed last month to the weakest pace since 2010, clouding the economic picture and dealing a blow to the prospects for a Federal Reserve rate increase this month.

.
Non-farm payrolls rose by a seasonally adjusted 38,000 in May, below a revised 123,000 figure for April and well below expectations for growth of about 160,000. Employers took on 59,000 fewer workers in March and April than previously reported.

.

The unemployment rate slid to 4.7 per cent from 5 per cent but the declines were driven by people quitting the labour force, rather than buoyant hiring. In a worrying signal, the number of people working part-time because they could not find a full-time post rose by 468,000.
Stocks sold off and the dollar fell on the report, which also sent 10-year bond yields sliding from 1.7938 per cent to 1.728 per cent. The DXY dollar index fell 0.8 per cent.

“This is a smack in the face for the US economy,” said Diane Swonk of DS Economics. “They [the Fed] need to see a much better June number to keep July on the table . . . When you are losing momentum going into the meeting, that is not when you raise rates.”


The implied probability of a June rate rise slumped in futures markets following the numbers from 5.6 per cent to 4 per cent, according to CME Group.

.
Traders now also see a July move as less probable, given that the downward revisions to March and April numbers suggest a broader slowing in hiring. During the past three months, job gains have averaged just 116,000 per month, compared with an average of 229,000 last year.

Worryingly, the pace of growth in the vast US services sector dropped last month to the lowest level since February 2014, adding to wider concerns about the health of the recovery.


Major sectors experienced declines, including manufacturing, where 10,000 jobs were shed; construction, where there were reductions of 15,000; and mining, with declines of 11,000

“Given the drop in corporate profits and investment in recent quarters, it was surprising that job growth held up so well until now,” said Gad Levanon, chief economist for North America at the Conference Board. “We expected job growth to slow, but not that much. This weak payroll report may well deter the Fed from raising rates this summer.”

 

[superbeets]

 

[superbeets]

Hmmmm, 8 years under DEMOCRATIC governing, what does that tell you!?!?!

.

 

[SheriffJoe]

Man, Jane Guesser Fonda is such a mouthpiece for Hussein it's unreal.

Does he work for the White House?