Disaster

Hotair reports:  Analysts expected the US economy to add 150,000 jobs in May. Instead, we saw only a net gain of 69,000 jobs, and the jobless rate went up slightly to 8.2% . . . .  U-3 (the topline jobless rate) went from 8.1% to 8.2%, the first increase of any kind in that measure since June 2011. The U-6 figure, which comprises all unemployed and marginally attached workers, rose from 14.5% to 14.8%.

James Pethokoukis:  Miserable May jobs report suggests U.S. in recession red zone. 



"And, as the above chart shows — originally from Obama economists Christina Romer and Jared Bernstein in January 2009 –the current 8.2% unemployment rate is 2.5 percentage points above where Team Obama predicted it would be right now if Congress passed his trillion-dollar stimulus plan."

Meanwhile, President Obama responded to today's jobs report by attending SIX fundraisers.