Today’s jobs report: nnnnobody expected it

A typical article today:

WASHINGTON (Reuters) – Job growth braked sharply in May and the unemployment rate rose for the first time since June, putting pressure on the Federal Reserve to ease monetary policy further to shore up the sputtering recovery.

The Labor Department report on Friday, which showed employers added a paltry 69,000 jobs to their payrolls last month, the fewest since May last year, is also troubling news for President Barack Obama ahead of November’s elections.

The unemployment rate rose to 8.2 percent from 8.1 percent partly because people flocked into the labor market.

Economists polled by Reuters had expected nonfarm payrolls to increase 150,000 and the jobless rate to hold steady at 8.1 percent. …

Dear media economists: Sitting in the statistics patch month upon month hopefully awaiting The Great Keynesian Recovery, Charlie Brown! may prove the sincerity of your religious superstition, but it doesn’t change the fact that your creed is hopelessly based in buncombe.

Jon Sanders / Director of Regulatory Studies

Jon Sanders studies regulatory policy, a veritable kudzu of invasive government and unintended consequences. As director of regulatory studies at the John Locke Foundation, Jo...

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