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May report: Economy created fewest jobs in a year

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By Doug Powers  •  June 1, 2012 11:08 AM

**Written by Doug Powers

I’d also tell you that March and April’s numbers were revised down, but, as David Axelrod says, you can’t handle the truth!

From the AP:

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

The unemployment rate rose to 8.2 percent from 8.1 percent in April, the first increase in 11 months.

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.

May’s 69,000 jobs weren’t nearly enough to even keep pace with the number of people entering the job market.

With any luck, six fundraisers in one day and spending more time with George Clooney can improve the jobs situation. Forward!

Believe it or not, some are blaming GOP austerity measures for the latest jobs (or lack thereof) report.

On the White House blog, Alan Krueger reminds everyone that this is Bush’s fault: “We are still fighting back from the worst economic crisis since the Great Depression.” Shorter version: Yeah, we got nothin’.

Is the White House desperate enough to consider Krugman’s alien attack stimulus idea yet?

The Romney campaign has some seriously quick response time. Here’s Team Mitt’s latest (h/t Ed Morrissey):

Update: Heh… Bush White House visit makes unemployment worse

**Written by Doug Powers

Twitter @ThePowersThatBe

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