Home About Chat Users Issues Party Candidates Polling Firms Media News Polls Calendar Key Races United States President Senate House Governors International

New User Account
"A historical political resource." 
Email: Password:

  Worst U.S. Job Data in a Year Signals Stalling Recovery
Parent(s) Issue 
Last EditedScott³  Jun 01, 2012 05:37pm
Logged 0
MediaNewspaper - New York Times
News DateFriday, June 1, 2012 11:35:00 PM UTC0:0
Description"A dismal job market report Friday gave a resounding confirmation to fears that the United States recovery has markedly slowed, reflecting mounting evidence of a global slowdown.

The report, which showed the smallest net job growth in a year and an unemployment rate moving in the wrong direction, was a political game-changer that bodes ill for President Obama as he faces re-election.

It provided traction for his Republican rival, Mitt Romney, at a time when politicians have been deeply divided over the most effective way to strengthen the economy. And it put increased pressure on the Federal Reserve to take further action to stimulate growth.

The United States economy gained a net 69,000 jobs in May, according to the Labor Department. The unemployment rate rose to 8.2 percent from 8.1 in April, largely because more people began looking for work. And there was more unexpected bad news: job gains that had been reported in March and April were revised downward.

Economists can explain away a month or two of disappointing numbers. But this was the third consecutive disappointing monthly performance by the job market, following a winter of solid gains, convincing many that the economic recovery has, for the third year in a row, lost momentum. A few analysts even reintroduced a possibility that dogged last year’s forecasts but did not come to pass: a double-dip recession."
ArticleRead Article

Date Category Headline Article Contributor

Enter your Name:

A moderator will have to approve your message before it will appear.
Simple bad-talking or insulting messages will likely be deleted.
If you are trying to write to a candidate that appears on the site, they likely do not read this and will not answer.
This site is an English language site and non-English messages will be deleted.

Enter This Code