Bye bye, Bammy. This is just brutal.
The American jobs engine hit stall speed in May, with the economy adding just 69,000 new jobs while the unemployment rate climbed to 8.2 percent.
As another summertime swoon looms, the Bureau of Labor Statistics reported that job creation missed economist estimates for 158,000 new positions, and said labor force participation remains near 30-year lows.
The report comes a month after the government reported that just 115,000 new jobs were added in April, a number that helped contribute to a general malaise about economic growth.
With worries swelling over the state of the global economy, another weak employment report in the U.S. adds to fears that a sharp slowdown is on the way.
And it will continue until Mitt Romney is elected.
Hey, look over there at the shiny object. Bain!
This is just brutal no matter how you look at it. But how can these “experts” and “economists” be so far off in their forecasts? Not even half of what they expected.