Jobs report: Only 69,000 jobs added, jobless rate rises to 8.2%
posted at 8:33 am on June 1, 2012 by Ed Morrissey
Jim Pethokoukis called this a “huge miss” on Twitter, and he’s right. Analysts expected the US economy to add 150,000 jobs in May. Instead, we saw only a net gain of 69,000 jobs, and the jobless rate went up slightly to 8.2%:
Nonfarm payroll employment changed little in May (+69,000), and the unemployment rate was essentially unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care, transportation and warehousing, and wholesale trade but declined in construction. Employment was little changed in most other major industries.
The long-term unemployed jumped up by 300,000 as well, while participation ratios rose:
H/T Hot Air