Only 69,000 jobs created in May; Unemployment rate at 8.2%

"Unexpected" of course. The administration only missed the estimates - 158,000 - by a measly 87,000 jobs. The most dynamic economy in the history of civilization, the brainiest and hardest working workforce, the most creative entreprenuerial class, and trillions of dollars in capital to invest -- and the Obama team labors to bring forth... 69,000 jobs? CNBC: The American jobs engine hit stall speed in May, with the economy adding just 69,000 new jobs while the unemployment rate climbed to 8.2 percent. As another summertime swoon looms, the Bureau of Labor Statistics reported that job creation missed economist estimates for 158,000 new positions, and said labor force participation remains near 30-year lows though incrementally better than last month. The unemployment rate that counts discouraged workers rose as well, swelling to 14.8 percent. In May, stocks suffered through their worst month in two years, and the job-creation figures only added to the gloom. Stock market...(Read Full Post)