Hi Arizona...gleeful? Which part, the "ouch"? I think the report speaks for itself. It can be interpreted any way you or I want to. Economists agree that just to keep employment growth/loss flat monthly job creation has to be 120,000 (I'd say by that measure it's a failure). By this time in the recessionary cycle, after the amount of ongoing stimulus spending it is expected (by virtually every economist) and Joe Biden that employment would be growing at an increasing pace. What's particularly disconcerting in this report is the fact that construction employment dropped substantially and 31,000 jobs are attributed to hiring by Temp agencies. Couple that with the fact that applications for real estate purchase transactions fell 40% in May from the April level and the correlation appears to substantiate the fear that housing construction isn't improving. There are a number of other very troublesome situations brewing that will have a substantial impact on the economy...
The one shinning spot was manufacturing employment. But manufacturing amounts to around 17% of the countries GDP and won't really be the driving force in employment going forward, but it was the highlight.
Obama fail????? On the contrary I want him to succeed. You dislike the fact that I don't agree with how he's trying to solve the problem and my disagreement makes me ?????????
I believe if you were to review the posts made on the subject of employment I was roundly criticized for my position that the policies wouldn't have a significant impact on unemployment. I guess we'll just have to wait and watch the monthly reports roll in, but I'd suggest that the May report wasn't particularly encouraging....JMO.
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