"The number of people who had been unemployed for more than 27 weeks, who are classified as long-term unemployed, rose to 5.4 million in May from 5.1 million in April. They account for 42.8% of the unemployed."
In one month 300,000 more people crossed that threshold.
6/1/12, "Jobs report a trainwreck," Washington Examiner, Philip Klein
"The U.S. economy added just 69,000 jobs in May, well below expectations of 150,000 job gains, according to a report by the Bureau of Labor Statistics.
Not only did BLS report terrible numbers for May, but it made downward revisions to previous months job growth numbers, which were already considered weak. The economy is now said to have added 143,000 jobs in March (instead of 154,000) and just 77,000 jobs in April (instead of 115,000).
The unemployment rate crept up slightly to 8.2 percent.
The awful numbers, coming on top of a downward revision in first quarter economic growth to 1.9 percent, make President Obama's reelection campaign a lot more difficult and play right into the hands of Mitt Romney's economic message."
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6/1/12, "US economy added 69,000 jobs in May, fewest in a year," AP
"Construction firms cut 28,000 jobs, the steepest drop in two years."
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6/1/12, "Weak US job figures for May hit markets," BBC
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sign via Hot Air, 6/1/12, unattributed
via Lucianne
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