Has President Obama's Spending Killed the Recovery?
Written By: Thomas R. Eddlem | Posted: Saturday, June 11th, 2011
The U.S. economy experienced disappointing jobs numbers in May, according to figures released June 3 by the U.S. Bureau of Labor Statistics (BLS), leaving the unemployment rate at 9.1 percent at the end of the month.
The BLS reported that "Total nonfarm payroll employment was little changed in May (+54,000), following gains that averaged 220,000 in the prior 3 months. Private-sector employment continued to trend up (+83,000), although by a much smaller amount than the average for the prior 3 months (+244,000)." The U.S. economy has to add close to 200,000 jobs per month just to keep up with the increase in population, so the figures represent upward pressure on the unemployment rate.
Sign into your account to read the rest of this article. »