Pathetic June 2012 Jobs Reports … Only 80,000 Jobs Created … Unemployment Stays at 8.2% (Update: DOW Down 120 Points …)


Terrible June 2012 jobs report … a pathetic 80,000 jobs created for the month. Welcome to the Obama job recovery. The analysts were expecting at least 90,000 jobs. Economists polled by Bloomberg were looking for a gain of 100,000 during the month, with private payrolls advancing . That itself is a poor expected result. Can you say, EPIC FAIL!

The U.S. economy created just 80,000 jobs in June and the unemployment rate held steady at 8.2 percent, reflecting continued slow growth in the economy with the presidential election just four months away.

The Bureau of Labor Statistics said private payrolls increased 84,000, while the government lost 4,000 jobs.

Me thinks the Barack Obama bus tour in the battleground states of Ohio and Pennsylvania just crashed and went off the road. Lets hear Obama spin his way out of this meager jobs report.

From the Bureau of Labor and Statistics:

Nonfarm payroll employment continued to edge up in June (+80,000), and the
unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor
Statistics reported today. Professional and business services added jobs,
and employment in other major industries changed little over the month.

Household Survey Data

The number of unemployed persons (12.7 million) was essentially unchanged
in June, and the unemployment rate held at 8.2 percent. (See table A-1.)

Among the major worker groups, the unemployment rate for blacks (14.4 percent)
edged up over the month, while the rates for adult men (7.8 percent),
adult women (7.4 percent), teenagers (23.7 percent), whites (7.4 percent),
and Hispanics (11.0 percent) showed little or no change. The jobless rate
for Asians was 6.3 percent in June (not seasonally adjusted), little changed
from a year earlier. (See tables A-1, A-2, and A-3.

UPDATE I: Markets Fall in wake of Poor Jobs Numbers from the Obama Jobs Recovery.

The Dow was off just a few points before the announcement. It’s now down more than 70 points.

Gold is also off in the wake of the announcement, trading at $1608 per ounce.

The price of Treasury notes has also fallen.

UPDATE II: Comment of the day courtesy of Jammie Wearing Fool … “I almost expect Team Obama to claim Mitt Romney outsourced all the missing jobs.”  Even though you are joking, sadly this will most likely be contemplated by Team Reelect Obama. When one sends their minions on TV to lie how Obama’s attorney argued the individual mandate as a tax to the SCOTUS and then tell the American people they never did anything of the sort, the hell with the actual audio, anything is possible for a desperate Presidency.


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  • Comments

    10 Responses to “Pathetic June 2012 Jobs Reports … Only 80,000 Jobs Created … Unemployment Stays at 8.2% (Update: DOW Down 120 Points …)”

    1. WEBIII on July 6th, 2012 7:25 am

      What’s scary is this is the high figure. It will be revised down at 11pm next Friday night.

    2. Scared Monkeys on July 6th, 2012 7:29 am

      You are correct, next month we will hear that the number was adjusted down,

    3. A Texas Grandfather on July 6th, 2012 10:35 am

      More madeup numbers from the propaganda machine at the Department of Labor.

      The real question is when are those that talk about the condition of our economy in the media going to admit that we never got out of the recession and have been skirting the edges of a depression for more than thirty months?

    4. joetote on July 6th, 2012 1:12 pm

      8.2% my ass! With an over 3% dropout rate from the labor force for people who have stopped looking that brings it up to 11.2% right off. !90,00 new people into the job market last month. 80,000 jobs created. And the President today said the economy is going in the right direction1 Moron alert! He’s correct if one wants the job market to go directly to HELL!

    5. Les on July 6th, 2012 6:46 pm

      There’s a lot of noise in the employment report from seasonal adjustment. The actual number of jobs increased almost 500K from last month and over 3M from last June.
      SM: You dream that little dream that Obama is doing anything for jobs. America knows it as so many live it every day.

    6. kiltie on July 6th, 2012 10:21 pm

      And with the 80,000 jobs in June, there were 85,000 people put on disability. duh.
      SM: More people have actually stopped looking for employment than have got jobs under the Obama Administration. If this occurred under a Republican President there would be headlines on the front pages of newspapers every day and every MSM news outlet would open their news with this as their top story.

      When it happens under Obama is page 10 and a 5 sec reference.

    7. on July 7th, 2012 7:31 am

      what should scare you the most about # 5′s table is that only 63% of the population supports the rest of the population.

    8. OUT OF TOUCH, a Disaster for the US Economy … Barack Obama Says 80,000 Jobs is a “Step in the Right Direction” … Romney Says “Its a Kick in the Gut”, You Make the Call America | Scared Monkeys on July 7th, 2012 9:14 am

      [...] thinks the American people are stupid. Following yesterday’s disastrous jobs report that say a meager 80,000 jobs created in the month of June and unemployment remained at 8.2%, President Barack Obama actually had the audacity to say that [...]

    9. Rasmussen: Partisan Hack Democrats Believe the US Economy Getting Better | Scared Monkeys on July 24th, 2012 10:05 am

      [...] exactly would make anyone think the economy is getting better? The unemployment rate has remained at 8.2%, even though we know the real unemployment rate is closer to 15%. The last three months have shown [...]

    10. Barack Obama … Pandering and the Paying for Votes, From Obamacare to Welfare to Taxes … the Redistribution of Wealth for Votes | Scared Monkeys on July 30th, 2012 10:45 am

      [...] stimulus was passed unemployment would be kept below 8%. We all know that did not happen as the United States has experienced 41+ months of unemployment over 8%. What of the tax payers hard earned money that was allocated to failed [...]

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