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Employment Numbers Dismal

Posted by Steve Markowitz on June 1, 2012

The US Labor Department released the May jobs report and it was ugly.  While economists expected about 150,000 jobs to be created in the month, nonfarm jobs grew by only 69,000 pushing the unemployment rate up from 8.1% to 8.2%.  While only a small percentage, this was the first uptick in a year.

In addition, the government revised downward the non-farm payrolls for March by 11,000 and April by 38,000 jobs.  It is evident that the government is having difficulty maintaining the ginned-up figures of the past.

The latest employment numbers are yet another indication that the government’s policy of stimulus, bailouts and interventions have failed.  Governments cannot and do not create long-term jobs or economic growth.  Starting with the Bush Administration and redoubled by President Obama, all that has been accomplished is the creation of significantly more public debt.  But this will not stop the Progressives in Washington from trying more of the same failed policies.  Expect the President suggests more stimulus spending and the Fed to offer more Quantitative Easing, i.e. print money.  Sooner or later even these incompetent knuckleheads will succeed in creating inflation.

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One Response to “Employment Numbers Dismal”

  1. Carl Hackert said

    Agreed … the same government knuckleheads who fabricate the phony unemployment numbers also fabricate the official inflation numbers. The are 3 main reasons for hiding the rising cost of everything (insurance, energy, food, taxes, waste disposal, labor and healthcare: Politics, Interest rates and Cost of Living adjustments.

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