BREAKING: Unemployment Jumps up to 8.2%

Posted: Jun 01, 2012 8:42 AM

The job numbers from the Bureau of Labor Statistics are out and they don't look good. The unemployment rate has gone up from 8.1 percent to 8.2 percent with the economy adding just 69,000 jobs in May after economists predicted the economy would add at least 150,000 jobs. That's a significant shortfall. Not to mention, this percentage doesn't include those who have given up looking for work. The labor participation rate sits at 63.8 percent, meaning 36.2 percent are not participating or actively looking for work. Job growth has also been deemed as slowed and long term unemployment is still a major problem.


UPDATE: Romney reacts:

“Today’s weak jobs report is devastating news for American workers and American families. This week has seen a cascade of one bad piece of economic news after another. Slowing GDP growth, plunging consumer confidence, an increase in unemployment claims, and now another dismal jobs report all stand as a harsh indictment of the President’s handling of the economy. It is now clear to everyone that President Obama’s policies have failed to achieve their goals and that the Obama economy is crushing America’s middle class. The President's re-election slogan may be ‘forward,’ but it seems like we've been moving backward. We can do so much better in America. That's why I'm running for president.”

UPDATE II: RNC responds, are you better off?