brotherplanet wrote:If some were celebrating a 0.1% drop in the unemployment rate, then those same people must be freaking the fuck out over the 0.1% increase in unemployment.
LMFAO, there you go with your strawman. Who was "celebrating" a drop of .1%? A change in .1% is called "essentially unchanged."
From the Employment Situtation Summary:
http://www.bls.gov/news.release/empsit.nr0.htm
Nonfarm payroll employment changed little in May (+69,000), and the unemployment rate was essentially unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today.
The market fell because the report was worse than expected, not because it was "hell day." Two million jobs have been added to the private sector since May 2011.
May 2011: 109.097 million employed in the private sector
May 2012: 111.040 million employed in the private sector
http://data.bls.gov/timeseries/CES0500000001
More from the BLS report. As has been pointed out to you, the housing bubble correction continues to be a drag on the economy. The only area that saw job losses was construction:
Employment increased in health care, transportation and warehousing, and wholesale trade but declined in construction. Employment was little changed in most other major industries.
Now to turn the thread around on you, if you made a big deal out of a decline in the abor force participation rate last month, then you should be celebrating now. The participation rate increased and offset last's months decline which you made a big deal about.
The civilian labor force participation rate increased in May by 0.2 percentage point to 63.8 percent, offsetting a decline of the same amount in April.
Here is your post:
viewtopic.php?f=5&t=269109&p=5603242&hi ... e#p5603242
brotherplanet wrote:The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.
Labor force participation Rate:
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