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Hiring in U.S. Slowed in May With 54,000 Jobs Added

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posted on Jun, 3 2011 @ 08:34 AM
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Hiring in U.S. Slowed in May With 54,000 Jobs Added


www.nytimes.com

After several months of strong job growth, hiring slowed sharply in May, raising concerns once again about the underlying strength of the economic recovery.

The Labor Department reported on Friday that the United States added 54,000 nonfarm payroll jobs last month, following an increase of 232,000 jobs in April. May’s job gain was about a third of what economists had been forecasting.

The unemployment rate ticked up to 9.1 percent from 9.0 percent in April.
(visit the link for the full news article)




posted on Jun, 3 2011 @ 08:34 AM
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This is extremely worrisome news as the federal reserve has done everything possible to get the economy going again. The only option left is to implement even more quantity easing (simplistically meaning: increasing the money output). This is going to even more seriously affect the value of the dollar.

What is left to do for America? If the credit rating agencies will downgrade the credit worthiness of the US, interest rates will become higher as investors will deem the risk of investing in the US higher, hence, total debt will continue to increase steadily. Credit rating agencies say that the US needs to raise its debt ceiling, which is a ridiculous idea. Countries like Greece can't do that as bankruptcy means bankruptcy, the US can as they have the world reserve currency, but even then... you can't spend boundlessly.

Bill Gates said in 2006 that the dollar will go down, and there's no doubt on my mind it soon will. The worst is yet to come, and no, I don't want to monger fear, it's becoming reality.

www.nytimes.com
(visit the link for the full news article)



posted on Jun, 3 2011 @ 08:38 AM
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Originally posted by Mdv2

Hiring in U.S. Slowed in May With 54,000 Jobs Added


www.nytimes.com

After several months of strong job growth, hiring slowed sharply in May, raising concerns once again about the underlying strength of the economic recovery.

The Labor Department reported on Friday that the United States added 54,000 nonfarm payroll jobs last month, following an increase of 232,000 jobs in April. May’s job gain was about a third of what economists had been forecasting.

The unemployment rate ticked up to 9.1 percent from 9.0 percent in April.
(visit the link for the full news article)



Remember last month when mcdonalds had that national hiring day? When you factor that number in and considering it was mcdonalds jobs, the view is even more dismal.

The number was 50,000. www.abovetopsecret.com...
edit on 3-6-2011 by Wetpaint72 because: (no reason given)



posted on Jun, 3 2011 @ 08:46 AM
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It isn't just the US tho... and the depth of the austerity measures have not really been felt elsewhere.. that is yet to come and IMHO it does not bode well..

The title below really sums up for me where we really are..


Public don't understand how bad the economic crisis is, warns Vince Cable



Politicians have failed to prepare the public for the scale of the impending squeeze on living standards, Business Secretary Vince Cable has warned.


Ar ticle

edit on 3/6/11 by thoughtsfull because: extra use of bold




posted on Jun, 3 2011 @ 08:55 AM
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O.k.
So I'm claiming to know a little bit about the future.
I don't expect you to believe me.
Just listen to my story.
The U.S. is actually very close to a total economic collapse.
1 in 6 people can't find full time jobs.
1/2 of all jobs are low wage $9 to $13 an hour.
They might be growing and distributing pot to supplement their income.
This knowledge will be extended to subsistence farming. Any sign of this in the U.S. yet? People growing food?
States will start breaking apart.

The John Titor story is a hoax. But people who write under the name of "John Wiseman" are real. Time travel might be real.



posted on Jun, 3 2011 @ 08:57 AM
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reply to post by thoughtsfull
 


True, but if the US goes down, we all will. Just look at the difficulties we have keeping Greece afloat. The US is heading in exactly the same direction, but where Greece is a sinking tug boat, the US is the sinking Titanic; while the people on the tug boat might still be rescued, the Titanic can't possibly be saved from disaster due to its gigantic size. It's compartments are quickly filling up with water.

It is extremely dreadful that the US government is running out of options. Experts claimed years ago that quantitative easing would merely be a bandage that would only postpone execution and it seems they were right.



posted on Jun, 3 2011 @ 09:02 AM
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reply to post by thoughtsfull
 


In a way I am thankful that my GF and I were among the first round of folks hit by this economic chrisis. We lost our jobs and our home. We ended up taking the first jobs we could find, and that meant moving a 12 hour drive south with only our two dogs and what we could fit in our two cars.

We were truly busted, even had to borrow the money from family to make the move. Given this situation we have lived since then, now two and a half years, under our own self imposed austerity. We do not lack money, but we live like we are still broke...I love it! It is a very freeing, and happy existence.

Free yourself from the bondage of greed and lack! Live in abundance and gratitude!

Though I admit it hurt like hell when we were forced into it, now that it is our choice, it is a whole new world!

Take appropriate steps now to do all you can...it hurts much less when you get to choose for yourself what things you can do without.



posted on Jun, 3 2011 @ 09:17 AM
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The unemployment rate is actually 22% +

The Federal Govt is lying with their stats because an election is coming up next year



posted on Jun, 3 2011 @ 09:18 AM
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Swells since this is a problem should I go to college? Right now as a high schooler I'm currently thinking about what to do in the future since alot of my teachers are preaching and my parents say that college will save me



posted on Jun, 3 2011 @ 09:22 AM
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reply to post by starwarsisreal
 


My younger son is thinking the same. I told him the only way to make money these days is to be come a surgeon, banker or politician



posted on Jun, 3 2011 @ 09:29 AM
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reply to post by Mdv2
 


I think all Govs are running out of options.. the austerity won't won't, printing won't work.. they are all ways to simply buy time while bringing more destructive forces to bear on our economies.. and given how interlinked we all are.. I don't think it doesn't matter where it starts, be it in Greece, or the USA the only difference I see is the speed we sink.. If the US goes it'll be blooming fast...



posted on Jun, 3 2011 @ 09:29 AM
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ya know this is so sad.
Only 54,000 jobs created in May

McDonald's alone hired 50,000
in 1 day

money.cnn.com...



posted on Jun, 3 2011 @ 09:36 AM
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reply to post by Wetpaint72
 


I lost everything in the early 90s.. and while agree with your sentiments in part.. (the being happy to be free of lifes millstones) the way our society is currently set up means in the end you put another millstone around your neck.. especially if you have kids.. and that is a very hard step to take when you have been free.

My hope is that for once we move into a new form of society that is free of millstones.. I can, and do hope that will be the outcome.. but I do fear we are not ready as a species to make such a move.

In the meanwhile I really hope you enjoy every moment of being free



posted on Jun, 3 2011 @ 09:41 AM
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reply to post by starwarsisreal
 


I would encourage you to go to college. Take courses that will benefit you in your future job searches.There are many fields that will show growth in the next few years. Don't be despaired because of what we are facing today; America is strong and will pull through this.

And just learn what things make a nation strong. Don't be fooled by rhetoric that preaches how evil we are; we are not evil. Socialism doesn't work; it is ultimately a philosophy of death and decay. Be strong, be smart, always question why.

Good luck to you. Now get outta here and hit the books.



posted on Jun, 3 2011 @ 10:03 AM
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Originally posted by Mdv2

Hiring in U.S. Slowed in May With 54,000 Jobs Added


www.nytimes.com

After several months of strong job growth, hiring slowed sharply in May, raising concerns once again about the underlying strength of the economic recovery.

The Labor Department reported on Friday that the United States added 54,000 nonfarm payroll jobs last month, following an increase of 232,000 jobs in April. May’s job gain was about a third of what economists had been forecasting.

The unemployment rate ticked up to 9.1 percent from 9.0 percent in April.
(visit the link for the full news article)



Don't worry. All is well.
----------------------------------
As we speak the White House is " putting lipstick on a pig " regarding our glorious
U.S. economy.
Just trust in George Soros and everything will be wonderful.



posted on Jun, 3 2011 @ 10:06 AM
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Yep, this is the change we can believe in. But don’t worry, government pundits will be quick to point out that despite only adding 54,000 jobs in May, the REAL reason that unemployment went up, instead of down as expected, was because more people entered the work force. This is clearly a sign of economic recovery. People have more confidence in the economy and are therefore looking for work again. I’m sure it won’t be long before we hear that BS coming out of Washington. But the fact remains, only 54,000 new jobs were added in May. Manufacturing LOST jobs? That’s simply not good no matter how you slice it, especially when a couple days ago the forecast was for 150,000 new jobs. This is bad.



posted on Jun, 3 2011 @ 10:07 AM
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Get a job in technology...working with computers. When the Chinese take us over you will be all set.



Originally posted by mishigas
reply to post by starwarsisreal
 


I would encourage you to go to college. Take courses that will benefit you in your future job searches.There are many fields that will show growth in the next few years. Don't be despaired because of what we are facing today; America is strong and will pull through this.

And just learn what things make a nation strong. Don't be fooled by rhetoric that preaches how evil we are; we are not evil. Socialism doesn't work; it is ultimately a philosophy of death and decay. Be strong, be smart, always question why.

Good luck to you. Now get outta here and hit the books.



posted on Jun, 3 2011 @ 10:09 AM
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reply to post by princeofpeace
 


Is it too late to just blame it all on President George W. Bush?

-------------------------------
It looks like Obama is going to have to stand on his own pathetic record.
Socialism doesn't work.



posted on Jun, 3 2011 @ 10:12 AM
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reply to post by Eurisko2012
 


yeah but socialism works among the African Zulus !!!



posted on Jun, 3 2011 @ 10:17 AM
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Originally posted by mishigas
reply to post by starwarsisreal
 


I would encourage you to go to college. Take courses that will benefit you in your future job searches.There are many fields that will show growth in the next few years. Don't be despaired because of what we are facing today; America is strong and will pull through this.

And just learn what things make a nation strong. Don't be fooled by rhetoric that preaches how evil we are; we are not evil. Socialism doesn't work; it is ultimately a philosophy of death and decay. Be strong, be smart, always question why.

Good luck to you. Now get outta here and hit the books.


You should know that 60 minutes went to San Jose, California and interviewed a large
room - FULL - of unemployed workers. They asked people to raise their hands.
"How many of you have PHDs?" about 25% raised their hands.
"How many of you have Masters Degrees?" about 25% raised their hands.
"How many of you have Bachelors Degrees?" the remaining 50% raised their hands.
Then the 60 minutes reporter stated that all of you have played by the rules and still
you can't find work.
-----------------------------------
The way i see it, if the USA is going to soar out of this recession then it would be a
good idea if California leads the way.
I don't see that happening with Socialists running California.




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