Wednesday, June 01, 2011

Unexpected! Little Job Growth in May

Here we are about to enter another Bummer of Recovery. Where are the jobs, Mr. President?
Private businesses barely added jobs in May as large companies cut workers, according to a report released Wednesday. The news is sure to raise further fears about the second-quarter U.S. economy.

Private-sector jobs in the U.S. rose by just 38,000 last month, according to a national employment report published by payroll giant Automatic Data Processing Inc. and consultancy Macroeconomic Advisers.

Economists surveyed by Dow Jones Newswires had expected ADP to report a much larger job gain of 190,000 last month.
Have these so-called economists ever been right? They "expected" 190,000 jobs and we only saw 38,000? How much longer can they even boast the slightest bit of credibility when their forecasts are so abysmally wrong time after time? The media keeps pretending Obama is a shoo-in for re-election.

Not with numbers like this every month.

H/T Lachlan Markey.

It's not as if it's some random forecaster who hasn't got a clue.
The median estimate in the Bloomberg News survey called for a 175,000 advance. Estimates for the ADP data ranged from increases of 125,000 to 200,000, according to the Bloomberg survey of 37 economists.
You would think companies would be hiring graduates and other students in droves as colleges let out.

Guess again.
Companies created far fewer jobs than expected in May, adding to mounting evidence that the economy is decelerating.

According to ADP's May Employment Report, the private sector added 38,000 jobs in May on a seasonally adjusted basis. That was well below consensus estimates of 170,000.
Nobody can possibly spin this as good news, but Obama's bootlicking media will sure give it their best.


jgreene said...

The problem with Economists predictions of job growth is that they lie to themselves in using garbage-in, garbage-out algorithms and seat of the pants prognostications that are more political than scientific.

The FACT is that Economics is not a science.  Our Federal government continues to produce false numbers month after month and the White House is simply DROWNING in incompetent Marxist-Socialist PLANS that "unexpectedly" FAIL to produce job growth.

In addition, our journolistas, the Lame Stream Media rooting section for President Obama is abysmally IGNORANT of basic business sense and has little or no understanding of what has been successful in producing jobs in our history.  Too many of them are left wing, anti-capitalist clueless CLOWNS.

Last but not least is the unfortunate demise of our education system which produces graduates of high school and college totally bereft of any KNOWLEDGE of history, our constitution, basic mathematics or anything that would prepare them to MAKE SOUND DECISIONS in selecting political representnatives. 

Ergo, we have half a Congress of Democrat Socialists hell bent on destroying our economy with their massive spending schemes funnelling money to the Democrat multiple constituencies.

So week after week, month after month the job numbers UNEXPECTEDLY fall short of the delusional expectations of the IDIOTS on the left.  Paul Krugman, you are the epitomy of the left-wing's unexpected disappointment.

My Site (click to edit) said...

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the wolf said...

Any presidential candidate worth his (or her!) salt should hammer at the stimulus that did nothing but down us in more debt.

uncledan said...

Best Golf President EVAH!!

bandit said...

Nobody can possibly spin this as good news, but Obama's bootlicking media will sure give it their best.

Let me ttry. The nation's economy is superexcellent but is run by the Klan and the reason there's no hiring is that they just don't want a black man to suceed. Otherwise things are perfect and Sarah Palin is stupid.

Where do I get my media job? 

fiatlux said...

At least the unemployment rate will fall........the news is so bad that people are stopping the hunt for a job at a faster rate than others get laid off. Throw in food stamps, unemployment checks for life, disability scams and off-the-books work and we will be down to "full" employment in no time.

Thank you Barack! Give me another dose of this