Jobs Report Indicates Economic Cool Down
Weak employment gains in May (only 75,000 net new jobs) may be a sign of a faltering economy. According to NYT: “Anything below about 150,000 net new jobs a month is regarded as too slow to keep up with population growth, so in effect, workers are losing ground.”
Wait, before you go…
Jobs Report Signals Cooling Economy
By JEREMY W. PETERS Published: June 2, 2006
The American economy added a surprisingly weak number of jobs in May, a sign that nervousness over a cooling economy may be spreading among the nation’s employers.
The net increase in nonfarm payrolls in May — 75,000 — is a significant falloff from April, when the Labor Department estimates that 126,000 jobs were added, a figure it revised downward today from the 138,000 it initially reported.
Anything below about 150,000 net new jobs a month is regarded as too slow to keep up with population growth, so in effect, workers are losing ground.
The Labor Department statistics were the latest in a series of recent reports pointing to a slowdown in the expansion of the economy. link
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.Support Truthdig
There are currently no responses to this article.
Be the first to respond.