START A PETITION 25,136,189 members: the world's largest community for good
START A PETITION
x
1,328,113 people care about Politics

May Jobs Report Shows Sluggish Growth

May Jobs Report Shows Sluggish Growth

The U.S. economy produced 69,000 jobs in May, and the unemployment rate climbed from 8.1 percent to 8.2 percent as the economy showed only sluggish growth.

The growth was slower than many economists had expected; Reuters poll of economists had expected the economy to add about 150,000 jobs during the month.

The growth in jobs has slowed this year after early signs of strength. But the ongoing economic crisis in Europe, slowing growth in China and the continuing hangover from the banking collapse of 2008 have proven hard for the economy to shake.

There were a few bright spots in the report. The unemployment rate rose primarily due to more employees entering the workforce; the additional job-seekers indicates that there is more faith in the economy’s short-term growth.

Overall, the private sector added 82,000 jobs in May, while government shed 13,000 jobs.

In response to the report, House Minority Leader Nancy Pelosi tweeted, “The jobs report makes clear we have more work to do for the middle class. Yet GOP won’t offer jobs plan, just tax breaks for millionaires.”

Related Stories

Despite Renewing Unemployment Benefits, Many About to Lose Checks

If You’re Unemployed, Your Standards Might Be Too High

Majority of Unemployed Attended University

Read more: , , ,

have you shared this story yet?

some of the best people we know are doing it

13 comments

+ add your own
8:54AM PDT on Jun 3, 2012

ALLLLLLLLLLLL oil is WORLD oil. It is ALL sold on the world market,Whether it comes from Canada or the USA. IT All get sold on the WORLD market. There is NO domestic oil.

There is nothing stupid about wind and solar aside from the fact that the Chinese have the market completely cornered. THATS why Solyndra failed. The chinese government
invested 20 BILLION in the fledgeling industry which made OUR plants unable to sell product.
Obama isn't killing jobs ……. CHINA IS.

Until we are willing to work for 30 cents an hour it will remain this way not matter what Obama does. ANY new technology we create the Chinese make sure they are the first into market and a lower price than we can create it at. NOT because they are more efficient, but because their government will spend enough to keep us out of the market.

6:34PM PDT on Jun 2, 2012

If we had a President and Congress that wants to turn aroung the US economy, they would put the EPA on furlough for 5 years, allow more drilling. Oh I know Obama said it would take 10 years to get oil flowing and that was 10 year past. We need more refineries, and not next century, but in two or three years at least a half dozen. We need the Keystone pipeline flowing oil out of Canada. Our country runs on energy, our food supply, building materials and everyday items all cost us more as Obama sits happily watching gas prices raise to his stated objective of 7.00 a gallon. America has enough gas reserves to run our country for over 40 years, yet Obama has used the EPA to cut the flow to our citizens.

Each new well should have a small 4-5 % money reserve that is used to develope new energy sources for the future. If America gets off the stupid wind and Solar as answers to all of our problems and lets the science departmens of all our colleges compete for new sources, the creative skill of America will once again shine and become the leaders of the world.

Number one action, get GOVERNMENT OUT OF THE LIVES OF THE CITIZENS.

4:26PM PDT on Jun 2, 2012

The inconvenient truth that most people don't want to face is that the problem is not that growth is sluggish, it's that we shouldn't be growing at all on a finite planet with finite resources. We got off on the wrong foot right from the start when we designed our world economies to only be successful as long as they are growing and now we're in a bind. The leveling off and stabilization that will come eventually has the potential to be devastating, but it has to happen. We can't go on like this. And the sooner we accept this bitter pill of our own making and take steps to ease into the transition, the better.

1:03PM PDT on Jun 2, 2012

Republican corporations making sure Obama does not get a second term

9:34AM PDT on Jun 2, 2012

Obama Administration policies have had a lot to do with the depressed labor market.

"The new laws and regulations are creating a great deal of uncertainty among businesses," he said. "Banks are reluctant to lend until they know what regulations will be coming from Dodd-Frank. And even some Federal Reserve members have said they've spoken with businesses that don't know what their health care costs will be under ObamaCare. Until they know, they aren't going to be hiring."

8:34AM PDT on Jun 2, 2012

Perfect answer: Since the banks and wall street caused this financial mess and now they have ALL the money they should be required to hire, or least put on their payrolls, with full benefits, all the unemployed people in the world.

8:03AM PDT on Jun 2, 2012

right on Paul B

5:01AM PDT on Jun 2, 2012

Though US job growth is "sluggish" major corporations again report strong profits "year-on-year"..... so when "Reuters poll of economists had expected the economy to add about 150,000 jobs during the month" the markets gained; meaning that the "False Flag" announced by Reuters meant some in the “Know” saw their bets/earnings from the stock markets grow.

Those who waited for the "Official Employment Figures" saw big loses as the markets declined on the announcement of lower job numbers created.

The unofficial and official US job creation figures is causing what can only be described as "Insider Trading" as Stock Market confidence (though brief) grows on the announcement of higher figures and falls on the release of the Official job numbers, which strangely are almost always LOWER.

4:51AM PDT on Jun 2, 2012

This shows that we need jobs NOW! Not more government regulations and red tape and hand outs! What people need is a hand up!

4:14AM PDT on Jun 2, 2012

Every economy is struggling. The job situation and slow growth in jobs is the same everywhere. Waiting for capitalists to create jobs in America is a joke. The firms prefer to employ people abroad because it's cheap and they make more money. They won't change because crony Mitt is in the White House. They'll get better tax breaks and everyone will get screwed.

add your comment



Disclaimer: The views expressed above are solely those of the author and may not reflect those of
Care2, Inc., its employees or advertisers.

ads keep care2 free

Recent Comments from Causes

I love goats. Wish I lived where I could have one, or two, or...

We definately need to protect them along with all other species

BULLSHIT!!!! If they want to come to America , GET A FUCKIN JOB! Pay your own way. Why should I have…

Story idea? Want to blog? Contact the editors!
ads keep care2 free



Select names from your address book   |   Help
   

We hate spam. We do not sell or share the email addresses you provide.