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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 1 June 2012 [View all]xchrom
(108,903 posts)43. JOBS REPORT DISASTER: JUST 69K NEW JOBS CREATED, UNEMPLOYMENT RISES, DOW PLUNGES 2.2%
http://www.businessinsider.com/the-may-non-farm-payrolls-report-2012-6
UPDATE:
The number is out.... It's bad.
There were just 69K net new jobs created in May. That's well below the Wall Street consensus of 150K.
Unemployment ticks up to 8.2%. It was 8.1% last month.
The market hates the news. Dow futures are off 202 points.
But what about revisions to past months? In the past they've been getting revised up.
But they were ugly too.
Last month was revised down from 115K to 77K.
Here's a bunch of stuff from the report, which you can read in full here.
------------------
Nonfarm payroll employment changed little in May (+69,000), and the unemployment rate
was essentially unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported
today. Employment increased in health care, transportation and warehousing, and wholesale
trade but declined in construction. Employment was little changed in most other major
industries.
Household Survey Data
Both the number of unemployed persons (12.7 million) and the unemployment rate (8.2
percent) changed little in May. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men (7.8 percent) and
Hispanics (11.0 percent) edged up in May, while the rates for adult women (7.4 percent),
teenagers (24.6 percent), whites (7.4 percent), and blacks (13.6 percent) showed little
or no change. The jobless rate for Asians was 5.2 percent in May (not seasonally
adjusted), down from 7.0 percent a year earlier. (See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks and over) rose from 5.1
to 5.4 million in May. These individuals accounted for 42.8 percent of the unemployed.
(See table A-12.)
Read more: http://www.businessinsider.com/the-may-non-farm-payrolls-report-2012-6#ixzz1wY0kFkZV
UPDATE:
The number is out.... It's bad.
There were just 69K net new jobs created in May. That's well below the Wall Street consensus of 150K.
Unemployment ticks up to 8.2%. It was 8.1% last month.
The market hates the news. Dow futures are off 202 points.
But what about revisions to past months? In the past they've been getting revised up.
But they were ugly too.
Last month was revised down from 115K to 77K.
Here's a bunch of stuff from the report, which you can read in full here.
------------------
Nonfarm payroll employment changed little in May (+69,000), and the unemployment rate
was essentially unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported
today. Employment increased in health care, transportation and warehousing, and wholesale
trade but declined in construction. Employment was little changed in most other major
industries.
Household Survey Data
Both the number of unemployed persons (12.7 million) and the unemployment rate (8.2
percent) changed little in May. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men (7.8 percent) and
Hispanics (11.0 percent) edged up in May, while the rates for adult women (7.4 percent),
teenagers (24.6 percent), whites (7.4 percent), and blacks (13.6 percent) showed little
or no change. The jobless rate for Asians was 5.2 percent in May (not seasonally
adjusted), down from 7.0 percent a year earlier. (See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks and over) rose from 5.1
to 5.4 million in May. These individuals accounted for 42.8 percent of the unemployed.
(See table A-12.)
Read more: http://www.businessinsider.com/the-may-non-farm-payrolls-report-2012-6#ixzz1wY0kFkZV
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Demeter
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Missed the greatest opportunity this nation has seen in almost a century.
Egalitarian Thug
Jun 2012
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You'd think they'd learn how to make better tasting jelly after all these years.
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Demeter
Jun 2012
#16
Anyone willing to bet that the US markets finish in the black today, though? esp. after Europe close
Roland99
Jun 2012
#39
U.S. adds 69,000 jobs in May; jobless rate 8.2% (March and April *both* revised down)
Roland99
Jun 2012
#34
JOBS REPORT DISASTER: JUST 69K NEW JOBS CREATED, UNEMPLOYMENT RISES, DOW PLUNGES 2.2%
xchrom
Jun 2012
#43
Good Gawd! It got worse there! It's like arguing with a Republican 10 years ago over WMDs!
Roland99
Jun 2012
#105
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Demeter
Jun 2012
#98
17 min. left for the rescue and still languishing just a bit above the daily lows.
Roland99
Jun 2012
#117
It's one of those "well, I really know better but couldn't resist" kinda things
Roland99
Jun 2012
#116