DAMN YOU, OBAMA !!! Government reports that economy created 217,000 new jobs in May
The economy created 216,000 seasonally adjusted new private jobs in May, the Bureau of Labor Statistics reported Friday, close to expectations. Add 1,000 public sector jobs for a total of 217,000. Both full-time and part-time jobs are included in the total. The official unemployment rate was unchanged at 6.3 percent.
Jobs grew to a total that is 97,000 above the pre-recession peak and an all time high.
The civilian labor force rose by 192,000 in May, compared with a whopping drop of 806,000 in April. The employment-population ratio remained steady 58.9 percent. The labor force participation rate also remained where it was, 62.8 percent, after a 0.4 percent drop in April.
The number of officially unemployed Americans remained at 9.8 million. But this does not include millions of workers who have left the workforce out of despair that they will find a job.
Another alternative measure—U6—includes Americans with no job, AND also those working part time who want full-time positions and workers who have looked for jobs in the past 12 months but not in the past four weeks. U6 fell from 12.3 percent in April to 12.2 percent in May.
“The fourth month in a row of above 200,000 job gains is encouraging but the overall data was about in line with expectations and still points to an economy that is growing closer to 2.5% and not 3%,” Peter Boockvar at Lindsey Group wrote.
Gains in March were unrevised at 203,000, and they were revised from 288,000 to 282,000 in April.
The number of long-term unemployed—jobless for 27 weeks or more—fell slightly to 3.4 million, 34.6 percent of the total unemployed.
http://www.dailykos.com/story/2014/06/06/1301886/-Government-reports-that-economy-created-217-000-new-jobs-in-May-Official-jobless-rate-still-6-3#
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