JOBS REPORT DISASTER: JUST 69K NEW JOBS CREATED, UNEMPLOYMENT RISES, DOW PLUNGES 2.2%

Posted by on Jun 01, 2012 at 9:22 am
explosion-bomb

The number is out…. It’s bad.

There were just 69K net new jobs created in May. That’s well below the Wall Street consensus of 150K.

Unemployment ticks up to 8.2%. It was 8.1% last month.

The market hates the news. Dow futures are off 202 points.

But what about revisions to past months? In the past they’ve been getting revised up.

But they were ugly too.

Last month was revised down from 115K to 77K.

Full story.

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