Unemployment Rate Rises to 9.4%; Highest Rate In 25 Years Thanks To Obama

This is the change that the miserable failure, Barack Hussein Obama, promised last November. He promised to create jobs. He said his "stimulus" bill would create millions. His lies and woefully incompetence are apparent. Despite this obvious and blatant failure, the peasantry of America is too stupid to understand basic numbers... too busy sitting in their trailer parks, collecting their welfare checks, and watching Octomom's new tv show. And the liberal sheep & ghetto riff raff infesting this nation's housing projects will blindly follow their master without question... no matter what he does or says. We're headed to double digit unemployment while Obama and his militant racist wife are partying like Hollywood socialites. Miserable failure are two words that are too nice for this utter joke we call the president


U.S. employers cut 345,000 jobs last month, the fewest since September and far less than forecast, according to a government report on Friday that was more evidence the economy's severe weakness was diminishing.

However, the Labor Department said the unemployment rate raced to 9.4 percent, the highest since a matching rate in July 1983, from 8.9 percent in April.

March and April's job losses were revised down to show a smaller declines of 652,000 and 504,000, respectively.

Analysts polled by Reuters had forecast non-farm payrolls dropping 520,000 in May. The unemployment rate had been forecast to rise to 9.2 percent.

While the job losses in May were spread across almost all sectors, the pace of layoffs was slower than in prior months.

Payrolls in construction industries fell 59,000 after dropping 108,000 in April, likely as a result of the government's historic $787 billion stimulus package.


Current DateTime: 05:36:06 05 Jun 2009
LinksList Documentid: 31121546

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The service-providing industry shed 120,000 positions after eliminating 230,000 in April. The manufacturing sector purged 156,000 jobs in May, likely reflecting auto plant shutdowns in the wake of Chrysler's bankruptcy filing. The sector shed 154,000 in April.

Education and health services sector payrolls expanded by 44,000 after increasing 13,000 the prior month. Government, which in April added 92,000 jobs, mostly related to preparations for the 2010 census, cut 7,000 positions in May.

Since the start of the recession in December 2007, the economy has lost 6.0 million jobs, the department said.