Dow hits four-month low on weak jobs report
NEW YORK — US stocks plummeted Friday after disappointing US Job figures fueled fears about the health of the Economic Recovery and concerns mounted about European public finances. The Dow Jones Industrial Average tumbled 324.06 points (3.16 percent) to 9,931.22, finishing solidly below the psychologically sensitive 10,000 level. It was the weakest close for the blue-chip index since February 8. The tech-rich NASDAQ index dropped 83.86 points (3.64 percent) to 2,219.17. And the S&P 500...

A Sunny Response to Stormy Weather
As I wrote earlier today , it is difficult to see the May Jobs numbers as anything but a worrying disappointment. The stall-out in Job Growth might be temporary — but it is a stall-out. Private Employers are not generating enough Jobs to put a dent into the headline Unemployment number. (It declined last month only because Workers left the labor force.) The Economy needs to add 100,000 Jobs a month just to keep up with population Growth. In May, despite improvements in Consumer Spending...

Jobs report shows economy stronger: Obama
HYATTSVILLE, Maryland (AFP) – President Barack Obama Friday shrugged off a weaker-than-expected Jobs report that rattled Markets, saying a slight drop in the Unemployment rate showed The Economy was getting stronger. Obama said at a commercial truck Dealership in suburban Maryland outside Washington that there would be ups and downs for the recovering economy and that the rebound was still in its early stages. But he said "this report is a sign that our economy is getting stronger...

Disappointing jobs report sends stocks sliding
NEW YORK (AP) - Stocks fell to their lowest level in four months Friday after the government said hiring remains weak and another European country warned its economy was in trouble. The Dow Jones industrial average dropped 323 points to close below 10,000. It was the lowest finish since February and the third-worst slide of the year. Major indexes all lost more than 3 percent. The drop pushed the Market back into "correction" mode, meaning a decline of at least 10 percent from a recent high....

US stocks plunge, Dow down over 3.0 percent
Wall Street stocks plunged Friday after a weak Jobs report raised questions about the strength of the US Economic Recovery, with losses gaining steam late in the session. The Dow Jones Industrial Average tumbled 319.75 points (3.12 percent) to 9,938.47 at 1855 GMT, solidly below the psychologically sensitive 10,000 level. The tech-rich NASDAQ index dropped 79.39 points (3.45 percent) to 2,223.64 and the S&P 500 index, a broad measure of the Market, shed a hefty 36.55 points (3.31 percent) at...

May jobs report out: Lots of Census jobs, few others
Unemployment data for May is out.  On the surface, it looks like real improvement : The U.S. Labor Department said nonfarm payrolls rose by 431,000 last month, the largest gain since March 2000. That followed an unrevised 290,000 increase in April.(...) Taking into account revisions to prior months, the U.S. economy added an average of nearly 200,000 Jobs a month in the January-May period, a positive sign for the Job Market as it recover from the worst Recession since the 1930s. Also, ...

DNC Chairman Tim Kaine's on May Jobs Report: "Five consecutive months of job growth"
This morning, the Bureau of Labor Statistics (BLS) released the May Jobs report. In total, 431,000 Jobs were created last month, including 41,000 Private-sector Jobs, and the Unemployment rate fell to 9.7 percent. As today's numbers illustrate, Job growth is now a continuing trend and shows that from the Recovery Act, to Tax Credits for working Americans, to hiring incentives, the bold actions taken by President Obama and Democrats in Congress are fueling Economic Recovery and Job growth "...

Disappointing jobs report sends stocks tumbling
(06-04) 10:39 PDT New York (AP) -- Stocks fell sharply Friday after the Labor Department said hiring remains weak and Hungary became the latest European country to report its economy is in Crisis. Interest Rates dropped as investors moved their money into the safety of Treasury Bonds and notes. The Dow Jones industrial average dropped nearly 250 points and briefly fell below 10,000. All the major indexes were down more than 2 percent. Retailers were among the hardest hit Stocks as investors bet...

Jobs Report Disappoints Economists
Private Sector hiring was essentially flat in May, with fewer workers being hired than expected. It's disappointing news after signs earlier in the year of a labor Market recovery. The Economy did add 431,000 Jobs, but the overwhelming majority of those were temporary government Census positions. Only 41,000 Private Sector Jobs were added. Frank Langfitt

431,000 New Jobs ... 9.7% Unemployment & Only 41,000 are Private Sector Jobs
  WOW, 431,000 new Jobs in May 2010 and Unemployment down to 9.7%. Now comes the double wow … 441,000 were temporary government Census Jobs. You heard that correctly, that means only 41K Jobs created in the Private Sector. What a didaster. Payrolls rose by 431,000 last month after a 290,000 increase in April, figures from the Labor Department in Washington showed today. The gain was smaller than the 536,000 median forecast in a Bloomberg News survey and reflected a 411,000 jump in...

Economists React: ‘Recoveries Don’t Move in Straight Lines’
By Phil Izzo Economists and others weigh in on the Census-boosted jump in Nonfarm Payrolls and the decline in the Unemployment rate . – The May employment report underscores the fragility of the Economic Recovery... If anything, today's data show that employers took a breath last month — perhaps they were spooked by all the tape bombs that overloaded the news wires or maybe this number was a payback for the outsize gains in March and April. Recoveries do not move in a straight line...

Private employers hold back on hiring in May
Washington (AP) - A swell in temporary Government hiring for the Census drove almost all the Job Market's gains last month—a huge disappointment to Wall Street and a sign that Private Employers aren't yet confident enough in the Recovery to start adding workers with gusto. Daunted by the European Debt crisis and a falling U.S. Stock Market at home, American businesses added just 41,000 Jobs in May, the fewest since January. The Government hired 10 times as many for the national Census,...

Private employers hold back on hiring in May
Washington — A swell in temporary Government hiring for the Census drove almost all the Job Market's gains last month — a huge disappointment to Wall Street and a sign that Private Employers aren't yet confident enough in the Recovery to start adding workers with gusto. Daunted by the European Debt crisis and a falling U.S. Stock Market at home, American businesses added just 41,000 Jobs in May, the fewest since January. The Government hired 10 times as many for the national...

Equities Get Double-Teamed by the Euro and May Jobs Report
The euro cratered Friday, and so did the Stock Market. Heightened anxiety over the European Debt crisis (thanks, Hungary) would have been more than sufficient to ensure Wall Street would have a bad day. A truly dismal Jobs report meant equities never stood a chance. The blue-chip Dow shed more than 300 points as traders fled risk for the relative safety of The Dollar, gold and Treasurys. Word that Hungary could join the ranks of European governments staring at insolvency pretty much ensured...

US Senate Briefing, June 4, 2010
The Bureau of Labor Statistics reported the May Unemployment numbers today, and they're particularly disappointing. "Total Nonfarm Payroll employment grew by 431,000 in May, reflecting the hiring of 411,000 temporary employees to work on Census 2010, the U.S. Bureau of Labor Statistics reported today. Private-sector employment changed little (+41,000)." Politico provides some context: "That's less Job growth than many expected, and will not provide a boost to the Obama...

Job gains weak in May, unemployment drops to 9.7%
Washington — Employers added 431,000 Jobs in May, mostly temporary U.S. Census Workers, while Private Sector employment rose a far-less-than-expected 41,000, the Labor Department said Friday in a report that spotlights what will likely be a bumpy Recovery in the Labor Market. The Unemployment rate fell to 9.7% in May from 9.9% in April as 322,000 Workers left the Labor force, including many discouraged Workers who stopped looking for work. THE OVAL: Obama stresses positives in Jobs report...

May jobs report: Unemployment lower
NEW YORK (CNNMoney.com) -- A flood of temporary Census Workers in May led to the biggest jump in Jobs in ten years, the government reported Friday. Employers added 431,000 Jobs in the month, up from 290,000 Jobs added in April. It was the biggest gain in Jobs since March 2000. Census hiring was responsible for 411,000 of May's increase in employment, but Private Sector employers also added 41,000 Jobs in the period. Government payrolls other than Census declined by 21,000 Jobs in May. It was a...

U.S. Economy Added 431,000 Jobs in May, Bolstered by Census Hiring
By LUCA DI LEO and JEFF BATER WASHINGTON -- The U.S. economy added Jobs in May at the fastest pace in a decade but the gains were inflated by temporary government hiring for the 2010 Census and weren't enough to bring Unemployment down much. The U.S. Labor Department said nonfarm payrolls rose by 431,000 last month, the largest gain since March 2000. That followed an unrevised 290,000 increase in April. Economists polled by Dow Jones Newswires were expecting payrolls to rise by an even...

Only 20,000 New Non-Census Jobs In May! Jobs Bills NEEDED!
This Post originally appeared at Campaign for America's Future (CAF) at their Blog for OurFuture . I am a Fellow with CAF. Evan as Washington ignores jobs bills and slashes help for long-term unemployed Workers The Economy may be starting to fall back. The Economy added 431,000 jobs in May, but 411,000 of those were temporary Census Workers. Compare this to last month when businesses added 218,000 jobs. The Unemployment rate remains very high at 9.7%, dropping only because 322,000...

The Bad News is There Remains Virtually no Private Sector Hiring
MAX WOLFF FOR BUZZFLASH The good news is that Unemployment declined to 9.7% in May 2010. The bad news is there remains virtually no Private Sector hiring and state and local governments are cutting. 95% of non-farm Payroll growth in the US in May came from temporary Census hiring. A fragile Europe is battered by sliding Euros, a Hungary's woes and Italian Debt worries, US employment remains very weak. 46% of our unemployed have been out of work for at least 27 weeks. This can be seen as...

Progressive Breakfast: Weak Jobs Report
Each morning, Bill Scher and Terrance Heath serve up what Progressives need to affect Change on the kitchen-table issues families face: Jobs, Health Care, green Energy, Financial Reform, affordable education and Retirement security. As "America's Future Now!" Prepares To Convene, Progressives Take Stock Robert Borosage previews AFN! conference with call for independent progressive movement, in Politico oped: "... it is time for Labor and other progressive movements to re-engage our own base,...

Private Sector Job Gains Slow
The U.S. economy added 431,000 Jobs in May -- but 411,000 of those were temporary government hires for the 2010 Census, the Wall Street Journal reports. The Private Sector created just 41,000 Jobs after adding 218,000 Jobs last month. The Unemployment rate fell only moderately to 9.7%.

Disappointing jobs report sends stocks tumbling
NEW YORK (AP) - Investors went back to selling Stocks sharply lower Friday after the Labor Department's disappointing news that hiring remains weak. Interest Rates fell sharply as investors moved their money into the safety of Treasury Bonds and notes. The Dow Jones industrial average dropped nearly 260 points and fell below 10,000. All the major indexes were down more than 2 percent. Losses were exacerbated by new concerns about Europe's Debt problems. Retailers were among the hardest hit...

Good news, bad news in monthly job totals
GOOD NEWS, BAD NEWS IN MONTHLY Job TOTALS.... After a crushing Recession that created an Unemployment crisis, it's tempting to feel good about the turnaround in the monthly Job totals. Whereas The Economy was hemorrhaging Jobs a year ago at this time, we now have our heads above water. But given expectations, today's report from the Bureau of Labor Statistics will likely strike many as disappointing . Employers added 431,000 nonfarm Jobs nationwide in May, the biggest increase in a single...

Private Hiring 'Weak,' 411,000 Jobs Out of 431,000 Temp Census Positions
The Bureau of Labor Statistics released its monthly Jobs report on June 4, showing only 41,000 new Private-sector Jobs. But those Jobs were overshadowed by the enormous number of temporary Census Jobs in the May data. According to the report, "employment grew by 431,000 in May, reflecting the hiring of 411,000 temporary employees to work on Census 2010." Those Census Jobs made up 95 percent of the total payroll employment growth. Even then, the hiring fell short of...