The May 2006 payrolls added 75,000 to the workforce.
95.4% of Americans are working.
The unemployed rate is at an anemic 4.6%.
Is that good news?
You wouldn't think so by reading the headlines:
May job growth much weaker than expected :Reuters
Jobs gains weaker than expected :CNN
May job growth anemic, but jobless rate falls :MarketWatch
Job growth weak in May, but jobless rate slips :MSN Money
Payroll Growth Stalls With 75,000 New Jobs ABC News
Dollar undone by unexpectedly weak jobs creation :MarketWatch
Unemploykment Dips, But Hiring Slows: CBS News
Bloomberg doesn't parse words: US May Payrolls Rise 75,000; Unemployment Rate at 4.6%
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7 comments:
The reason they say that(I watch cnbc too) is that the number of jobs added is below expected. It is not enough to keep up with our needs(especially with illegal workers.) Also good paying technical jobs are down and resturant and bar employment is up. As for 4.6 unemployment, thats the people on unemployment. Add me for next month. People that have given up on finding a good paying job end up at the resturants and walmarts. I understand how you could think this was bias but really its not. A stock that comes in below expected numbers, even if it gains is punished in the stock market. Its the way wall street has always done business. Nothing unusual here.
As always, it means nothing without factoring in underemployment or ""HEY"" the fact that the annual income is dropping faster than the IQ of a regular FAUX News watcher. Oh, and add me to the unemployment roster after this week. We should get piece rate according to how many apps we send out.
The left is always going to bitch about underemployment and those not counted in the statistics, no matter how good the numbers are. Even so, 4.6% unemployment with underemployment and the uncounted jobless is better than 6.0% unemployment with underemployment and the uncounted jobless.
Good point jason, except you didnt account for the falling income levels of the country having so much work to do.
I want to see that stats going back to atleast 1990 showing how income is falling now...
I am currently unemployed too..no fault of my own..the business didnt have enough money to employ everybody and since I had one of the higher salaries....
From my house the economy sucks.
I have an idea, lets remove the burden for insuring Americans from the backs of business. Lets see.. if we would do that what kind of system could we come up with to make sure that middle class and poor people dont start dying in the street. How could we make sure that the vast majority of Americans made a contribution to their own health care, you know, personal responsibility?
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