Payroll Growth Stalls With 75,000 New Jobs

[ProSense]

Associated Press

Payroll Growth Stalls With 75,000 New Jobs

By JEANNINE AVERSA , 06.02.2006, 08:42 AM

Job growth faltered in May, with employers boosting payrolls by just 75,000. Yet the nation's unemployment rate dipped to 4.6 percent, the lowest since the summer of 2001.

The latest snapshot, released by the Labor Department on Friday, offered a mixed picture of the jobs climate. Wage growth, meanwhile, slowed, a development that should ease concerns about inflation getting out of hand.

The count of new jobs generated last month - 75,000 - was the smallest since October, when hiring practically stalled as companies were jolted by fallout from the Gulf Coast hurricanes. Job gains for March and April turned out to be weaker than previously reported.

On the other hand, the unemployment rate dropped a notch from 4.7 percent in April to 4.6 percent in May, the lowest since July 2001.

more...

http://www.forbes.com/home/feeds/ap/2006/06/02/ap2789354.html

[NoAmericanTaliban]

1. What's bad for mainstreet is good for Wallstreet...

...average hourly wages rose only 0.1 percent after a revised 0.6 percent rise in April, which had stirred some inflation fears. Economists had forecast only a 0.3 percent gain in May.

from CNN - http://money.cnn.com/2006/06/02/news/economy/jobs_may/index.htm?cnn=yes


Wallstreet & the GOP love it when wages for the average worker go down - that is one of their main economic principals, but somehow a lot of these same workers keep voting for them.

[Jeffersons Ghost]

2. Kicked and Recommended, the economy is the last nail in his coffin

[Mr Rabble]

3. How the hell is it possible

to have just 75,000 new jobs, combined with revised figures for previous months, and STILL have a drop in the unemployment rate?

[Jeffersons Ghost]

5. the "drop" is people dropping from unemployment insurace...

as benefits expire, leaving them with NO INCOME.

[kentuck]

4. How does the unemployment rate drop ...?

whenever the economy needs a reportedly 150,000 jobs just to stay even? And more people will be entering the job force after the graduations in May. Obviously, by these numbers, the economy is not creating enough jobs.

[Jeffersons Ghost]

6. many of these recognized "indicators" are nothing but propaganda

[AzDar]

7. The books are being cooked, methinks. n/t