Latest jobs reportJune 1, 2012 @ 8:55 am (Updated: 9:05 am - 6/1/12 )
"Bummer, bad report all the way around," said economist Mark Zandi. "There's no hiding, this is a pretty bad report."
Not happy news. Except maybe for Mitt Romney's campaign manager.
Net new jobs in May came in at a pathetic 69,000, and not only that, the employment numbers for March and April were revised downward.
And when that happens, consumer don't want to spend, which is the message of the Labor Department's other report released Friday.
"With the jobs numbers coming in pretty weak, it does suggest that we're not going to see a real strong summer season."
And yet, here's the strange thing, something else that economist Mark Zandi said: "If you look at American companies, they're in pretty good shape."
And the real picture is different.
"The reality is I don't think this is reality. I think the economy is stronger than this and that will shine through in the coming months."
In fact, if you call up Jennifer Grasz at career builder, she says, "I have companies like FirstGroup hiring over 10,000 workers in transportation. Wells Fargo hiring over 4,500 workers in financial services."
She just goes on and on with all the jobs out there: "AIG, CoinStar, Liberty Mutual."
And the health care jobs, over 340,000 new health care jobs since the beginning of the year.
"Community Health has 4,000 jobs open from everything from nurses to administrative positions," said Grasz.
OK. Cut it out. You're making us all feel like slackers.
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