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Jobs report misses estimates with 559,000
jobs added, unemployment rate falls to 5.8%

Original Article

Posted By: NorthernDog, 6/4/2021 9:20:20 AM

U.S. employers added fewer than expected jobs last month as extended unemployment benefits encouraged workers to stay home. Employers added 559,000 jobs in May, the Labor Department said Friday, missing the addition of 650,000 jobs that analysts surveyed by Refinitiv were expecting. April’s reading was revised higher by 12,000 to 278,000. The unemployment rate, meanwhile, declined 0.3 percentage points to 5.8%, its lowest since the pandemic caused businesses to shut their doors in March 2020. Despite the gains, the U.S. economy has 7.6 million, or 5%, fewer workers from its February 2020 pre-pandemic level. "Only a few months ago we

Comments:

Almost all new jobs were in leisure and hospitality industries. Still waiting for those millions of solar panel jobs to materialize.

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Reply 1 - Posted by: DVC 6/4/2021 9:33:00 AM (No. 805574)
Lies.....which they call "estimates". Bald faced, pure out LIES. I can tell you from talking with several different restaurant managers.....people are sitting on their lazy cans drawing government checks and deciding NOT to go back to work.
8 people like this.

Reply 2 - Posted by: Come And Take It 6/4/2021 9:45:55 AM (No. 805590)
I am personally very skeptical of any numbers reported by the government. As #1 points out, there are help wanted signs everywhere, and no one wants to work because they get paid more not to. Here in Illinois, unemployment far lags the national average, and I see no sign that is improving at all despite the claims of our governor.
7 people like this.

Reply 3 - Posted by: Califedup 6/4/2021 9:53:55 AM (No. 805600)
Department of Lies. Do not believe one word issued by any branch of the Federal Communist Death Democrat Government. An unending torrent of lies.
6 people like this.

Reply 4 - Posted by: coldborezero 6/4/2021 10:05:41 AM (No. 805608)
If a government employee tells me that water is wet, I will require personal visual, tactile, olfactory, aural and gustatory verification. Even with that, I will remain skeptical.
5 people like this.

Reply 5 - Posted by: Bur Oak 6/4/2021 10:06:10 AM (No. 805609)
Next month the unemployment rate for May will be revised upward.
3 people like this.

Reply 6 - Posted by: joew9 6/4/2021 10:06:38 AM (No. 805610)
Don't forget that all during the Obama years the unemployment rates and jobs report would be modified several months later and all the numbers would move to worse. Getting the reported numbers wrong by some amount is expected. But always getting them wrong to the political positive for the Democrat is not statistically possible.
5 people like this.

Reply 7 - Posted by: bpl40 6/4/2021 10:24:55 AM (No. 805635)
Half of those 5.8 are staying away because they are being paid by Uncle Sam (out of our pockets) to do so. That's the right pocket. Rising prices because of labor costs is the other one.
2 people like this.

Reply 8 - Posted by: mobyclik 6/4/2021 11:47:14 AM (No. 805733)
Keep an eye on Section D, page 14 of your local rag in two or three weeks and read how the numbers are ''unexpectedly lower than first reported.'' Same-o same-o when a Rat occupies the WH and the so-called ''media'' is his water carrier.
1 person likes this.

Reply 9 - Posted by: DVC 6/4/2021 11:53:11 AM (No. 805753)
Excellent point, #6.
0 people like this.

Reply 10 - Posted by: ArthurDent 6/4/2021 12:27:22 PM (No. 805798)
I am doubtful of this number. First off, they were starting with excuses two days ago, then it was only about 14% low compared to expectations. After last month, the expectations had already been lowered. Either way, 650,000 jobs would not show a "robust recovery", not compared to Trump standards. I think the main aim here is to temper expectations, not to demonstrate an economy "roaring back".
0 people like this.

Reply 11 - Posted by: stablemoney 6/4/2021 12:52:03 PM (No. 805819)
Most of the job additions in Democrat administrations are government jobs.
2 people like this.

Reply 12 - Posted by: local500 6/6/2021 5:04:51 AM (No. 807131)
Most of the jobs reported were either under employed or just were the results of the democrats' favorite tactic, cooking the books. Go read the numbers again on BLS site couple of months later, and you'd see the numbers are much worse after they are forced to publish the real numbers to be audited.
0 people like this.

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