Jobs report: Only 69,000 jobs added, jobless rate rises to 8.2%; Update: New Romney ad attacks on jobs, Solyndra

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:

The number of long-term unemployed (those jobless for 27 weeks and over) rose from 5.1 to 5.4 million in May. These individuals accounted for 42.8 percent of the unemployed. (See table A-12.)

The civilian labor force participation rate increased in May by 0.2 percentage point to 63.8 percent, offsetting a decline of the same amount in April. The employment- population ratio edged up to 58.6 percent in May. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) edged up to 8.1 million over the month. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

In other words, this is an unmitigated flop.

As noted, U-3 (the topline jobless rate) went from 8.1% to 8.2%, the first increase of any kind in that measure since June 2011.  The U-6 figure, which comprises all unemployed and marginally attached workers, rose from 14.5% to 14.8%.  The only really positive news was a fairly significant drop in the number of people not in the labor force, which went from 88.419 million to 87.958 million, a difference of 461,000 workers.  However, the increase in underutilization tempers that improvement quite a bit.

CNBC reports that job creation stalled out in May, and warns of another Recovery Summer summertime swoon:

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 futures indicated a sharply lower open for Wall Street, while investors continued to pour into bonds, sending the 10-year Treasury note yield tumbling to near 1.47 percent.

The AP points out that this is the worst jobs report in a year, as I did above.  The report also notes that the BLS revised the previous two month’s figures sharply downward, knocking 49,000 off of those figures:

U.S. employers created 69,000 jobs in May, the fewest in a year, and theunemployment rate ticked up. The dismal jobs figures could fan fears that the economy is sputtering.

The Labor Department also says the economy created far fewer jobs in the previous two months than first thought. It revised those figures down to show 49,000 fewer jobs created. The unemployment rate rose to 8.2 percent from 8.1 percent in April, the first increase in 11 months.

Finally, no round-up would be complete without checking in with Reuters, where bad news is usually unexpectedNot today, however:

Job growth in May was the weakest in a year and employers added far fewer jobs in the prior two months than previously reported, suggesting the economic recovery was faltering.

Employers created a paltry 69,000 jobs last month, the Labor Department said on Friday, the fewest since May last year. Economists polled by Reuters had expected nonfarm payrolls to increase 150,000.

In addition, employers added 49,000 fewer jobs than previously estimated in March and April. The unemployment rate rose to 8.2 percent from 8.1 percent as people flocked into the labor market.

Barack Obama had been expected to talk about jobs and the economy in his campaign stop today at a Honeywell plant in Minnesota.  There is no positive spin that can be put on this report.  It’s an indictment of Obama’s stagnation and incompetence at economics.  That doesn’t mean Obama won’t try to spin this as a positive report, so be sure to keep an eye on his response today.

Update: Yesterday’s surprise appearance at Solyndra resulted in a new ad from Mitt Romney’s campaign attacking Barack Obama on job growth and stimulus. This is not just serendipity — the Romney campaign was ready for this report:

“The President fails to understand the basic nature of free enterprise in America.”  Today, that message may resonate even more.  The turnaround time on this spot is rather amazing — less than 24 hours.


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The man in the photograph should be part of a Republican ad campaign.

Show all the highly skilled young people who want to work, but who can’t, due to the Obama administration’s corruption, incompetence and ability to kill jobs through regulation and overtaxation.

Elections have consequences. Economic failure is what you get when you foolishly vote for Democrats.

NoDonkey on June 1, 2012 at 9:06 AM

Good ad.

forest on June 1, 2012 at 9:06 AM

Wow. That Romney ad is full of WIN! And to have a flash to bang time of <24 hours suggests that the Romney campaign is on its A-game and is demonstrating extraordinary flexibility, timeliness, and response.

Very well played, sir.

ted c on June 1, 2012 at 9:06 AM

Sweet ad team Mitt

gophergirl on June 1, 2012 at 9:06 AM

This Romney fellow is beginning to show some promise…perhaps he learned something from 2008.

crazywater on June 1, 2012 at 9:06 AM

Yepper doughboy

They’ll keep trying …idiots

cmsinaz on June 1, 2012 at 9:06 AM

Solyndra
G.M

JVelez on June 1, 2012 at 9:06 AM

The civilian labor force participation rate increased in May by 0.2 percentage point to 63.8 percent, offsetting a decline of the same amount in April.
-Bureau of Labor Statistics

The unemployment rate rose to 8.2 percent from 8.1 percent as people flocked into the labor market.
-Reuters

Heh

topdog on June 1, 2012 at 9:07 AM

That Romney ad is breathtakingly good!

RedRedRice on June 1, 2012 at 9:07 AM

The people who think Republicans are happy about these numbers are missing the WHOLE point. For three years we have watched ridiculous policy decisions using precious tax dollars that we KNEW would fail be pushed down our throats as liberals championed them as successful. They have failed- get rid of the currnet administration that is killing this country.

Don’t come here and whine about republicans cheering sad numbers when you campaigned and voted for the current failed president. If you can’t change your vote- you are more partisan than american in my humble opinion.

Bensonofben on June 1, 2012 at 9:07 AM

That 69,000 includes +204,000 jobs discovered by their Birth/Death Model.

We’ve printed trillions of dollars. Would Romney put a stop to the printing?

flyfisher on June 1, 2012 at 9:08 AM

Maybe Barack Obama should get back to work instead of questioning Mitt Romney’s work ethic.

BigGator5 on June 1, 2012 at 9:06 AM

The last time that happened, president no-load gave us Obamacare.

No thanks. The more he golfs and fundraises, the less he screws things up.

NoDonkey on June 1, 2012 at 9:08 AM

IT DOESN’T MATTER that the guy in the picture has all of the “certified education” that his sign says he has.

What MATTERS is that that the schools/universities/colleges where he received his education GOT PAID with money from the Bank, that he is now “on the hook” for.

If people who could never “make it” in the real world didn’t have these schools/universities/colleges to employ them, so that they could get paid for doing “something”, where would our society be?

listens2glenn on June 1, 2012 at 9:08 AM

CNBC: “This is all Europe’s Fault”

Wait! What about Bush????

Rovin on June 1, 2012 at 9:08 AM

That doesn’t mean Obama won’t try to spin this as a positive report, so be sure to keep an eye on his response today.

The SCOAMF already tried that yesterday with his classless jab at President Bush during the portrait unveiling.

RobertE on June 1, 2012 at 9:08 AM

This is what my 18-year-old said to me the other night – a lot of his friends are so bummed they aren’t planning to vote in November because they think nothing will change. He said he told them this is why they HAVE to vote – all we can do as citizens is tell our leaders that this is NOT acceptable and hire some new ones to see if they can fix it. He thinks Mitt Romney is exactly the right guy to carry this message to a lot of young people who are without much hope for their futures.

That ad is 100% fabulous – nails Obama for hie naivete as well as his cronyism, and Romney striding to that podium looks more like a President than Barack Obama has in 4 years.

rockmom on June 1, 2012 at 9:09 AM

“The President fails to understand the basic nature of free enterprise in America.”

Obama: “On the other hand, what you’re now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on it.”

Profit and earning ratios?

Does the President Know What ‘P/E Ratio’ Stands For?

Economic/financial illiterate. Business illiterate.

Community-organizer-in-Chief.

petefrt on June 1, 2012 at 9:09 AM

Thank you president Obama, no thanks to GOP.
 
lester on May 26, 2012 at 2:57 PM

rogerb on June 1, 2012 at 9:09 AM

“…come up with something new… retard!”

I need a new keyboard that doesn’t have coffee all over it. THANKS

Bensonofben on June 1, 2012 at 9:09 AM

Irony: a guy with the handle Uppereastside claiming to speak for the middle class.

BKennedy on June 1, 2012 at 9:10 AM

Ain’t Obamanomics WONDERFFUL?”

GarandFan on June 1, 2012 at 9:11 AM

A PHD and his creativity hits its zenith at holding a cardboard sign begging for work?

THAT is what’s wrong with our education system.

KMC1 on June 1, 2012 at 9:11 AM

And the middle class hating right wing rejoices….

Uppereastside on June 1, 2012 at 8:54 AM

I’m firmly entrenched in the middle class and I’m not self-loathing, so take your BS someplace else. If I am rejoicing, it’s for one reason only. And that is that Obama has 5 months left til he gets his ass handed to him.

Doughboy on June 1, 2012 at 9:12 AM

It is political suicide for a dem (or at least undermines their talking points) but simply reducing unemployment benefits would lower the unemployment rate. Our government is incentivising unemployment.

MechanicalBill on June 1, 2012 at 8:38 AM

That’s not accurate.

The problem with unemployment is it de-incentivizes by attaching arbitrary checks and balances, and the rules change every few months.

If people knew where they were going to stand on the unemployment roles in six month stretches, you would have more people taking on several part-time jobs at once.

But, as it works now, by taking those jobs, which have no permanence and less income, you actually stand to increase your debt and fall farther behind.

Bureau people know this, but they don’t create the rules, so everyone works in a grey muddle.

Clarification and simplicity; then people can move forward.

budfox on June 1, 2012 at 9:12 AM

This has to be game over for Obama. Unemployment going up over the summer despite millions leaving the job market. He can’t survive this.
Coming at just the right time for Scott Walker too.

breffnian on June 1, 2012 at 9:12 AM

But think of how much worse it would be without that nifty “economic stimulus package” we passed. Anyway, it’s all the Republicans fault for not passing my awesome jobs bill.

eyedoc on June 1, 2012 at 9:13 AM

It is political suicide for a dem (or at least undermines their talking points) but simply reducing unemployment benefits would lower the unemployment rate. Our government is incentivising unemployment.

MechanicalBill on June 1, 2012 at 8:38 AM

Recently unemployed here after my company sold. I worked there over 21 years. It’s harder than heck to collect benefits in Kansas as the laws are written to disqualify and delay an applicant for the slightest of reasons. The company that bought out my former employer has a policy of denying the initial claim for anybody making a claim, regardless of reason and this can delay receiving benefits for up to 5 weeks in the appeals process.

I guess the point is to maximize the savings to their UI account. If they would have been truthful, though, they should have told the unemployment office that I was discharged. It will take me some time to find decent work, but I don’t see it taking longer than 6 months. I’ve already called their HR department and they said that I need to go through the appeals process and they will tell the state that they aren’t contesting it.

It will take some time to find a job and I do need the benefits because I have bills to pay, but I don’t see the job search taking longer than 6 months.

Unemployment insurance should be just that. Insurance. No one should be allowed to collect it perpetually and I don’t really agree with allowing anyone to collect it for more than 6 months and that’s the problem. It’s become an entitlement and it incentivizes unemployment.

I may find a job before the appeals process is finished. I am looking because I don’t see myself as a ward of the state and it’s no fun for me to sit at home. I’m not wired that way.

I can see how others would abuse it, though. For those of us that need it and deserve it, though, I think the process is a bit degrading. I wouldn’t put everyone in the ‘funemployment’ camp, because that doesn’t describe me.

Corporal Tunnel on June 1, 2012 at 9:13 AM

And the middle class hating right wing rejoices….
Uppereastside on June 1, 2012 at 8:54 AM

Yeah, you’re right.

I’m rejoicing that my son and his wife have been unable to find a job for almost a year now relying on me and my daughter-in-law’s father to help them pay their bills.

I’m rejoicing that my other son is sweating bullets and has an increased blood pressure praying that the company he works for doesn’t shut down any day now.

I’m rejoicing that my niece has to live away from her daughter 3 days out of the week because the only job she can find is almost 200 miles away from her home.

Does being ignorant always come so easy for you?

Flora Duh on June 1, 2012 at 9:14 AM

And the middle class hating right left wing rejoices doubles down on job killing policies….

Uppereastside on June 1, 2012 at 8:54 AM

The very reason we want Obama out of office is to stop punishing job creators and to bring back jobs to all Americans. Who said, “A rising tide lifts all boats”?

Fallon on June 1, 2012 at 9:14 AM

Dick Wolfe did say this morning on MSNBC that Obama has to convey that the hole we were in was deeper than we thought. Hello Dick- we are still in the hole. They have koolaid in those Starbucks cups.

Bensonofben on June 1, 2012 at 9:15 AM

And the middle class hating right wing rejoices….

Uppereastside on June 1, 2012 at 8:54 AM

I blame GW Bush and his WH visit yesterday.
No hating here.

FlaMurph on June 1, 2012 at 9:15 AM

Well Bill Clinton said Obama doesn’t understand the real world economy in the book Amatuer

Conservative4ev on June 1, 2012 at 9:15 AM

rogerb on June 1, 2012 at 9:09 AM

Love your Troll Quotes Collection!

txhsmom on June 1, 2012 at 9:16 AM

I have to say,I am encouraged with his campaign so far.I was concerned about another McCain but he is not backing down at all.

ohiobabe on June 1, 2012 at 9:17 AM

Good ad.

Fallon on June 1, 2012 at 9:17 AM

The actual number is not 8.2%, according to the Labor Departments U-6 report it was actually 14.1% in April and now it is 15.4% for May. Remember this U-6 report is most accurate because it captures the numbers of unemployed, under-employed and those who have left the job market altogether.

Force the media to use the accurate numbers.

http://www.bls.gov/news.release/empsit.t15.htm

pjean on June 1, 2012 at 9:19 AM

Very disappointing report. They went back and lowered the numbers for each month this Spring, showing that the slowdown has been ongoing for some time and deeper than thought. All eyes are now on Europe – until there is some sign of progress in that situation, business is frozen. We’re not seeing widespread job cuts, but everyone is holding their breath until we get more clarity on the global situation. we should get some hints this month with votes in Ireland and Greece; 2H12 budgets may be released soon after. If things do not pick up, QE3 is back on the table. Worldwide, markets continue to drop … time to start thinking about buying again.

TouchdownBuddha on June 1, 2012 at 9:19 AM

jobless rate rises to 8.2%

Øbama: The Food Stamp President

petefrt on June 1, 2012 at 9:20 AM

Shove it, pal, shove it hard and sideways.

We own our own business. Every day, my husband comes home, beaten but not bowed. This #}%#$& in the WH has decimated our economy. You think we are rejoicing? SERIOUSLY, you piece of scum?

Fluke you.**

**to the honest readers of HA, I apologize for my language, you know I don’t speak that way, but I am beyond angry at uphisarsesideways’ comments today.

herm2416 on June 1, 2012 at 9:21 AM

Geez. All it takes is a picture of GWB in the white house to tank the economy!

Axelrod can thank me for the spin later. I like craft beer and good scotch.

stvnscott on June 1, 2012 at 9:21 AM

**to the honest readers of HA, I apologize for my language, you know I don’t speak that way, but I am beyond angry at uphisarsesideways’ comments today.

herm2416 on June 1, 2012 at 9:21 AM

If you let him get to you, he wins. He is just a worthless troll, and not particularly one of our better ones. He wants to get under your skin. Don’t let him. Laugh at his idiocy instead.

stvnscott on June 1, 2012 at 9:22 AM

herm2416 on June 1, 2012 at 9:21 AM

That’s all right. The dems are so invested in a loser of a president they are working over time to PO everybody.

They figure the only way to continue our trip to socialism is another civil war.

cozmo on June 1, 2012 at 9:24 AM

Love your Troll Quotes Collection!

txhsmom on June 1, 2012 at 9:16 AM

Me too. I often wonder if they’re cataloged and cross-referenced by topic and keyword or if they’re just in a big messy doc file.

Lost in Jersey on June 1, 2012 at 9:25 AM

Referring to the man in the photograph:
Move to ND or MT.
They need a lot of people.
Like being a mudlogger. Something you don’t need a degree for anymore. Just a little college education or even a decent HS education & some intelligence.
They make $250+/DAY. You live on site.
Geologists on well sites make at LEAST twice that.
I don’t feel sorry for anybody. Even Bismarck & the surrounding area has tons of jobs.
You may not want to move, but at least don’t whine when you admit you’re not willing to go the distance to solve your problem.
And regarding the lame old excuse, ‘I don’t even have the money to move out there’, you wanna change your situation, you’ll come up with something.
Live in your car, in a tent, whatever.
Gotta do what it takes to take care of yourself & your family.
And regarding the ‘I’m ‘disabled” excuse, or ‘I can’t lift more than a pound. I have a bad back’ etc.
Get past it. Find a way to work despite your problem.
This is the gold rush out here. You may not want to live the gold rush forever, but you can make some $$ if you find a niche.
And believe me there are niches to find out here.
I really don’t want everybody moving out here.
But I have been in the dumps before, living in a tent, in my car & I moved across many states on a wing & a prayer to better myself.
My G-grandmother did it in the 1920′s. Let Memphis in a crappy car, $30 & 3 kids, leaving her alcoholic husband for California & a better life, where she became a social worker & an officer in the WACS.
There are just too many people in this country who have too many excuses & not enough WILL.

Badger40 on June 1, 2012 at 9:25 AM

April’s numbers were revised downward from 115,000 to 77,000. That’s a very large “adjustment.” This 69,000 number will be revised next month.

The US isn’t the only country being affected by an overall economic mess we find ourselves in. Reports from Europe show increasing unemployment there and Asia is also.

Romney needs to continue to pound on this issue. Hopefully he will continue to employ tactics like those he used yesterday, to simultaneously befuddle the clown posse and get his own message out.

dogsoldier on June 1, 2012 at 9:25 AM

And the middle class hating right wing rejoices….

Uppereastside on June 1, 2012 at 8:54 AM

well its not like they are cheering dead soldiers in iraq to improve their political standing.

t8stlikchkn on June 1, 2012 at 9:26 AM

time to start thinking about buying again.

TouchdownBuddha on June 1, 2012 at 9:19 AM

Buying with what Buddha? Our good looks? And another QE just extends the painful choices that have to be made. The report is almost as “disappointing” as your advice.

Rovin on June 1, 2012 at 9:26 AM

And the middle class hating right wing rejoices….

Uppereastside on June 1, 2012 at 8:54 AM

Oh, go find another strawman and get some better talking points from Axelrod.

We won’t “rejoice” until the destructive sociopathic punk you adore is out of the WH for good.

And, interesting that, since even a committed lefty loon like yourself can’t spin this news as positive, you instead pivot to the “hatred” of the “right-wing.”

Right Mover on June 1, 2012 at 9:27 AM

Back to the photo for a second, I wonder what field his PhD is in? Seriously.

Fallon on June 1, 2012 at 9:27 AM

Dick Wolfe did say this morning on MSNBC that Obama has to convey that the hole we were in was deeper than we thought. Hello Dick- we are still in the hole. They have koolaid in those Starbucks cups.

Bensonofben on June 1, 2012 at 9:15 AM

In other words, keep blaming Bush. Look, if we were adding consistently about 200,000+ jobs a month, Obama could make an argument like that. But when the economic recovery they keep touting never comes to pass, it becomes more than a little pathetic and insulting to keep passing the buck like that.

Doughboy on June 1, 2012 at 9:28 AM

Yeah, but Romney put his dog on top of the car or something.

And we spent the last four years working on a government takeover of health care that practically nobody wants (many because they are out of work), the cost of which we lied about…because it will be the final nail in our debt issue, which we conspired with drug companies to promote, which destroys religious freedom as we have known it throughout our history and which so egregiously assaults the concept of individual rights the SCOTUS is most likely to declare it unconstitutional.

Now, er, we really care about jobs and the economy. Really.

Marcus Traianus on June 1, 2012 at 9:30 AM

The last month that the Republicans controlled the House, the Senate, and the Presidency was December 2006.

What was the unemployment rate in December 2006?

4.4%

New Democrat Speaker Nancy Pelosi, Majority Leader Harry Reid, and Senators Barack Obama, Joe Biden, Hillary Clinton, etc. all inherited a GOOD economy from Republicans on January 4, 2007!!!

I have had enough of Democrats saying that Obama inherited a bad economy from Bush.

Bush and the Republicans ceased to be in the majority party on January 4, 2007.

Obama and the Democrats began majority party control of spending on January 4, 2007.

The true date of the transition in the balance of power is NOT January 20, 2009. It IS January 4, 2007.

By the way, the low point in the Employment-population ratio during the Bush-Republican majority years was 62.0 in September 2003. The 2003 Bush Tax cuts turned the economy around, and the Employment-population ratio increased all the way up until… the Democrats took majority control of the House, Senate, and overall spending process…

It is Democrats who drove the economy into the ditch.

It is Democrats who pushed the CRA and blocked Republican attempts to reform Fannie/Freddie. It is Democrats who are mostly responsible for TARP, and totally responsible for the Porkulus, Cash for Clunkers, etc. yet they blame that ALL on Bush and then claim it as their baseline to claim that they haven’t increased spending much.

They LIE.

ITguy on June 1, 2012 at 9:30 AM

Badger40 on June 1, 2012 at 9:25 AM

I realize my diatribe’s going to rub some here the wrong way & then they’ll be picking at me bcs I don’t know what they’re going through or It’s not that easy or I don’t want to leave my family or blah blah blah.

Sometimes in this life you have to do a lot you don’t want to do.
Like a husband moving out to ND & living in a man camp & only being able to see his family a couple months out of the year.
No different from a spouse on deployment in the military, which I have experienced.

If you have no job & there are no prospects in your area or in your field, you have to do something else.

I have a cousin in S. IN who is a potter. And very good. But since the ‘Recession’ AKA Greater Depression, he gave up his pottery.
He can’t get a job so for the past 3 years he’s been working off & on for a tree farmer, still lives with his parents at 46yo, & refuses to consider moving anywhere for work except for Ohio, which he is in love with.
Fortunately, he’s a great help to his parents right now bcs off his dad’s deteriorating condition.
But I often mention to him how there is opportunity up here & I would help him. He could live with us til he got on his feet.
But he’s single. So he can afford to be like this. No kids.
What of all the others who make excuses & get on public assistance bcs they refuse to make hard choices?
I have made the hard choices.
So I know this stuff isn’t easy. But where is people’s self sufficiency & pride?
My goodness I never waited around for welfare to help me out of a jamb.
I dove in & made a decision & every time I did, better things eventually came from it.

Badger40 on June 1, 2012 at 9:32 AM

And the middle class hating right wing rejoices….

Uppereastside on June 1, 2012 at 8:54 AM

Right. That must be why the base of the Democrat Party consists of limo-liberals and the dependent class. It’s platform is to move people from the middle class to the dependent class to lock down power.

forest on June 1, 2012 at 9:32 AM

NoDonkey on June 1, 2012 at 9:08 AM

You make a compelling argument…

BigGator5 on June 1, 2012 at 9:35 AM

They LIE.

ITguy on June 1, 2012 at 9:30 AM

ALL THE TIME. Zero and the clown posse own 2009 a fact they lie about every chance they get.

Great summary BTW.

dogsoldier on June 1, 2012 at 9:35 AM

Wow….

What an abject, pathetic, earflapped nincompoop.

So much for the “laser like focus” on jobs, I suppose.

But not to worry- lil’ choomie probably has a golf game lined up for this weekend, so everything’s cool.

And better still, the gallumping and gauche first “lady” is out campaigning for the feckless fop.

GrassMudHorsey on June 1, 2012 at 9:38 AM

Great Romney ad – I predicted they would do this when they did the same during the primaries. Romney ran an ad about another stimulus plant failure. These ads are lethal to Obama and indeed, this is not the 2008 McCain Campaign.

I recall, months back, visiting Hot Gas and being taken to the woodshed for my support of Romney. I have supported Romney since 2008, no flirtations with Palin, Santorum, Christie, Perry, Cain etc. I knew he would fight, afterall this is his last attempt at the brass ring. I knew Romney would have the demeanor that indies/moderates would turn to. His business experience was his biggest plus for me. I have been proven correct on that too. Any attack on Romney for his business experience only highlights Obama’s lack of any business experience whatsoever.

Yes, after seeing this Solyndra ad and seeing the 8.2% numbers today – I can feel a shift, perhaps unnoticeable to most but this month of June with the Walker recall and BOTH SCOTUS DECISIONS – now along with the UE numbers may very well be the shift that decides November. I am almost willing to say – mark my words……

BabysCatz on June 1, 2012 at 9:38 AM

“And the middle class hating right wing rejoices….

Uppereastside on June 1, 2012 at 8:54 AM”

Bzzzt. Wrong. Middle class here- and I’m not rejoicing, I’m raging. You and your idiot princess have ruined my country.

Why don’t you jump back in the clown car with your stoned boyfriend and drive back to wherever he’s purportedly from?

GrassMudHorsey on June 1, 2012 at 9:38 AM

Like Axelrod said…

We can’t handle the truth….

Electrongod on June 1, 2012 at 9:39 AM

Dick Wolfe did say this morning on MSNBC that Obama has to convey that the hole we were in was deeper than we thought. Hello Dick- we are still in the hole. They have koolaid in those Starbucks cups.

Bensonofben on June 1, 2012 at 9:15 AM

In other words, keep blaming Bush. Look, if we were adding consistently about 200,000+ jobs a month, Obama could make an argument like that. But when the economic recovery they keep touting never comes to pass, it becomes more than a little pathetic and insulting to keep passing the buck like that.

Doughboy on June 1, 2012 at 9:28 AM

Yeah, that excuse is getting really old. Honestly, if after 3 years Obama still can’t figure out how big the hole was, when will he figure it out?

toby11 on June 1, 2012 at 9:39 AM

April’s numbers were revised downward from 115,000 to 77,000. That’s a very large “adjustment.” This 69,000 number will be revised next month.

I just heard that even that 77,000 number was actually HALF that !!!

pambi on June 1, 2012 at 9:40 AM

As much as I love watching Team Romney squash Barry at every turn, it gives me concern about what lengths Obama will go to in order to change the narrative. You could see the desperation on Axelrod’s face yesterday.

BettyRuth on June 1, 2012 at 9:41 AM

I have made the hard choices.

So I know this stuff isn’t easy. But where is people’s self sufficiency & pride?

My goodness I never waited around for welfare to help me out of a jamb.

I dove in & made a decision & every time I did, better things eventually came from it.

Badger40 on June 1, 2012 at 9:32 AM

The difference between intelligence and education is this: intelligence will make you a good living. ~Charles F. Kettering

We started with nothing but we have followed the jobs as well. My oldest child lived in 13 different apartments and houses growing up because when opportunity called, we answered. It wasn’t easy, but it eventually paid off.

Fallon on June 1, 2012 at 9:42 AM

Great summary BTW.

dogsoldier on June 1, 2012 at 9:35 AM

Thank you, I appreciate your feedback.

ITguy on June 1, 2012 at 9:42 AM

OK, wait for it…………

Unexpectedly???

ICanSeeNovFromMyHouse on June 1, 2012 at 9:43 AM

Yesterday’s surprise appearance at Solyndra resulted in a new ad from Mitt Romney’s campaign attacking Barack Obama on job growth and stimulus. This is not just serendipity — the Romney campaign was ready for this report

Damn, it’s good to see someone fighting to win! Great ad. More please, and don’t let up.

Obama has never campaigned as an incumbent, always as the challenger. Not so easy is it, sport? Of course, I expect to start to see the Race Card in full effect by August/September, cuz he’s got nothin’ else.

goflyers on June 1, 2012 at 9:44 AM

Prime example of whats wrong in America.
(and I realize the pic is probably a fake)

but a person who has 3 Phds cannot MAKE a job for himself?

come on.?!

orbitalair on June 1, 2012 at 8:52 AM

Might have a worthless degree or one in a very competitive field with few jobs: Feminist Basket Weaving (worthless) or Philosophy (only a few spots, if any at all).

Gladtobehere on June 1, 2012 at 9:44 AM

Has Obama’s snake oil salesmen come out yet, to try and tell us what good news this is for us yet??? Oh Uppereastside: And the middle class loving right wing proven once again how, right they were about Obama being a Socialist, a economic idiot, and a complete disaster for America. FIFY

Beastdogs on June 1, 2012 at 9:45 AM

ITguy on June 1, 2012 at 9:30 AM

Yes, but these are actually facts. Where is are the divisive emotional distractions?

/snark

Great points, BTW.

Marcus Traianus on June 1, 2012 at 9:45 AM

Keep hitting him, Mitt.

Philly on June 1, 2012 at 9:47 AM

I notice that the imbecile from the East Side has disappeared, unable or unwilling to respond to the cogent retorts of about 20 of the regular non-troll posters here.
Must have run back to her Smartphone and texted Axelrod: “It’s not working, now what do I say??”

Right Mover on June 1, 2012 at 9:47 AM

I just heard that even that 77,000 number was actually HALF that !!!

pambi on June 1, 2012 at 9:40 AM

Do you have a link to that? BLS is reporting 77k.

dogsoldier on June 1, 2012 at 9:47 AM

Wow the WH just blamed Bush and the Republicans for the jobs number

Conservative4ev on June 1, 2012 at 9:48 AM

Don’t forget, this number is to be revised DOWN.

cajun carrot on June 1, 2012 at 8:37 AM

Speaking of downward revisions, the March jobs gain was revised downward (for the final time) from +154K to +143K, and April’s was revised downward from +115K to +77K. OOPS!

Steve Eggleston on June 1, 2012 at 8:40 AM

..write those numbers down on a piece of paper, Steve and friends, and look at them carefully. Remember that 4Q 2011 and January had job creation numbers in excess of the barely acceptable 250,000 level.

Clear, unmistakeable sharp trend downwards.

How does a company even entertain hiring with the uncertainty of the debt ceiling debt ceiling fight, taxmageddon, and whatever is not repealed of ObamaCare staring at them in five months?

The War Planner on June 1, 2012 at 9:48 AM

Jim Pethokoukis also had a tweet that I wish I had copied, indicating the whopping amount of money that the Obama administration has spent per job “created.”

onlineanalyst on June 1, 2012 at 9:48 AM

Great ad!!!

artchick on June 1, 2012 at 9:48 AM

Two possible consequences to these abysmal numbers:

1) The likelihood of further Fed intervention (QE3 or something of the sort) just increased dramatically (I’d say odds are much higher than 50/50)

2) The likelihood that Dems are willing to discuss tax rate extensions before the election is now also significantly higher (Still under 50%)

If additional monetary stimulus and/or tax rate extensions come to fruition in the next two or three months and further mask the severity of our current economic situation, the Administration and its lackeys might (MIGHT) have timed things just right in order to avoid too much political fallout in November.

Just wait for the chatter about QE3 to pick back up and markets to quickly turn upward like they inevitably do on such nonsense. Hopefully any Fed-induced sugar rush doesn’t last too long, with traders, investors, employers, etc., coming to their senses well before November.

steebo77 on June 1, 2012 at 9:50 AM

Everyone should call his-her Dem members of Congress and raise Hell about these asinine economic policies.

Make Obama political poison to other Dems.

matthew8787 on June 1, 2012 at 9:50 AM

Right Mover on June 1, 2012 at 9:47 AM

It did allow us to vent a little.

You cannot keep this kind of anger about our economy destroying president bottled up.

Taking it out on a moron that wants it is better than keeping that kind of anger around loved one’s.

cozmo on June 1, 2012 at 9:50 AM

Does this mean that crr6/Uppereastside is going to change her screen name again?

Dr. Carlo Lombardi on June 1, 2012 at 9:51 AM

Right. That must be why the base of the Democrat Party consists of limo-liberals and the dependent class. It’s platform is to move people from the middle class to the dependent class to lock down power.

forest on June 1, 2012 at 9:32 AM

These fools don’t even acknowledge this nor the 6+ trill that was stolen and blown to accelerate this plan. Inflation is their weapon, and they use it very keenly.

cajun carrot on June 1, 2012 at 9:52 AM

Yeah, the left is desperately clinging to that “800,000 jobs lost a month before Obama saved us” BS narrative. First of all, it was ONE MONTH, January 2009, and it was 750,000 jobs, not 800k. Funny how they keep upping that figure to make Obama’s anemic job creation look better. And no sane person with any knowledge of how the economy works would think for one second that employers would continue to shed jobs at a pace like that indefinitely. It was the nadir of the recession. If they wanna blame Bush for that, fine. But that means the weak recovery since then is on Obama.

Doughboy on June 1, 2012 at 9:01 AM

Yep, and that “800k jobs lost” number Obama clings to with a death grip was declining on it’s own, before one dime of Obama’s so called stimulus hit the economy.

Seriously, our economy would have been a lot better off if Obama hadn’t touched anything but a golf club and a basketball in his first term in office.

Cavalry on June 1, 2012 at 9:52 AM

I just heard that even that 77,000 number was actually HALF that !!!

pambi on June 1, 2012 at 9:40 AM

Do you have a link to that? BLS is reporting 77k.

dogsoldier on June 1, 2012 at 9:47 AM

..the number was revised DOWN TO 77,000.

The War Planner on June 1, 2012 at 9:52 AM

dogsoldier on June 1, 2012 at 9:47 AM

Sorry, no links atm … Bizz guy on Fox this morning spoke up to correct their onscreen chart that had 77,000.
Perhaps on the FNB website ?
I need to head to work, or I’d try myself, sorry.

pambi on June 1, 2012 at 9:53 AM

Yeah, that excuse is getting really old. Honestly, if after 3 years Obama still can’t figure out how big the hole was, when will he figure it out?

toby11 on June 1, 2012 at 9:39 AM

Also, let’s not forget that repeatedly since 2008 Obama has talked about this being the worst economy/crisis since the Great Depression. It sounds like he knew all along things weren’t good.

Doughboy on June 1, 2012 at 9:53 AM

Wolfe trying to spin it to “but we were losing 800k a month before dear leader won” and rendell with a poll blaming bush for this mess

Enough this isnt w’s fault

cmsinaz on June 1, 2012 at 8:52 AM

Nobody ever mentions who controlled BOTH HOUSES OF CONGRESS after those statements do they?

Wagthatdog on June 1, 2012 at 9:54 AM

And the middle class hating right wing rejoices….

Uppereastside on June 1, 2012 at 8:54 AM

Continually vindicated about 0poser? Yes.

Happy about the decline of America under 0poser? No.

But we get that you don’t get that, UES. Heck, you elected Bloomberg for a third term. Explains a lot about the New York education system. Once great; now fourth rate.

ProfShadow on June 1, 2012 at 9:57 AM

6 papers seems a bit low for PhD and three postdocs…Uhhm, ok scratch that never seen one Obama paper and he was an editor.

anikol on June 1, 2012 at 9:57 AM

Barack Obama had been expected to talk about jobs and the economy in his campaign stop today at a Honeywell plant in Minnesota.

Oh please do Mr. President. Let’s see you get up on that stage with all those union folk behind you and spike the football about what a wonderful recovery is going on in America. Your minion was in front of the Boston Statehouse yesterday talking about Governor Romney’s record as Governor. In the meantime your opponent was standing in front of one of your many failures. Which is more relevant to an unemployed American in 2012?

In the meantime, enjoy your six fundraisers. At least some Americans will get temporary work serving you and your fat cat donors.

Happy Nomad on June 1, 2012 at 9:59 AM

For those that were all over us avid Romney supporters over the last 6 months to year…this is the type of responses I KNEW Romney would hit Obama with all along once elected as the Republican nominee.

Great ad and he will continue to schwack Obama for the next 6 months!

g2825m on June 1, 2012 at 10:00 AM

Jim Pethokoukis also had a tweet that I wish I had copied, indicating the whopping amount of money that the Obama administration has spent per job “created.”

onlineanalyst on June 1, 2012 at 9:48 AM

You mean this one?
<blockquoteICYMI: CBO says Obama stimulus may have cost as much as $4.1 million a job http://bit.ly/KdoZdL

Steve Eggleston on June 1, 2012 at 10:00 AM

Almost as important as what the Fed chooses to do in the next few months is how the situation in Europe continues to unfold and what actions are taken by the ECB and the EFSF.

Regardless, so much monetary and fiscal stimulus has been pumped into the system over the past three and a half years that any additional stimulus, whether in the US or Europe, will probably have little effect beyond the extreme short term. The concept of diminishing returns definitely applies, especially with such awful jobs and growth numbers coming out of the major developed economies.

Short of a miracle, there’s nothing that can be done to turn the economy around (or even just give that appearance) in the next five months. Obama’s toast.

steebo77 on June 1, 2012 at 10:00 AM

Durn HTML tag failure:

Steve Eggleston on June 1, 2012 at 10:00 AM

Obama has never campaigned as an incumbent, always as the challenger. Not so easy is it, sport? Of course, I expect to start to see the Race Card in full effect by August/September, cuz he’s got nothin’ else.

goflyers on June 1, 2012 at 9:44 AM

Yep, hard to campaign against himself. “Elect me because the people in power are doing such a bad job. They’ve ruined the economy. They’ve ruined our stature in the world. They’ve ruined our relationships with some of our best allies. Elect me because the people in power are corrupt and evil and stupid and…OH WAIT…That was all me. Pass me another doobie…

ProfShadow on June 1, 2012 at 10:00 AM

It’s been a very, very, very bad week for Barry. Everyone in his party is turning on him and flocking to the Clintons.

Punchenko on June 1, 2012 at 10:03 AM

Nobody ever mentions who controlled BOTH HOUSES OF CONGRESS after those statements do they?

Wagthatdog on June 1, 2012 at 9:54 AM

Great points. I ahve also mentioned the same to friends that are Libs that the Dems controlled Congress since 2007 until 2010. Which also, if you recall, was partly Conservatives fault because many wanted to “send a message” by staying home in 2006…look where that got us and what we’ve all had to deal with because of that “wisdom”.

g2825m on June 1, 2012 at 10:03 AM

Remember that 4Q 2011 and January had job creation numbers in excess of the barely acceptable 250,000 level.

Clear, unmistakeable sharp trend downwards.

How does a company even entertain hiring with the uncertainty of the debt ceiling debt ceiling fight, taxmageddon, and whatever is not repealed of ObamaCare staring at them in five months?

The War Planner on June 1, 2012 at 9:48 AM

Many of those jobs were temporary, especially the Q4 numbers. You are absolutely correct, employers are shedding workers at an alarming rate.

Have you all checked out dailyjobcuts.com lately?

dogsoldier on June 1, 2012 at 10:04 AM

g2825m on June 1, 2012 at 10:00 AM

Great to see you. I got worried because you haven’t been around for a while.

Flora Duh on June 1, 2012 at 10:04 AM

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