Current Weather
The Spy FM

Did Jobs Grow Fast Enough In May? Probably Not

Filed by KOSU News in Business.
June 1, 2012

Breaking news at 8:34 a.m. ET: “Unemployment Rate 8.2 Percent In May As Just 69,000 Jobs Added

Our original post:

The most-anticipated news of the morning is coming from the Bureau of Labor Statistics, which at 8:30 a.m. ET will tell us how many jobs employers did or didn’t add to their payrolls last month and whether the jobless rate stayed at the 8.1 percent level it hit in April.

NPR’s John Ydstie tells our Newscast Desk that “according to surveys by news organizations, economists think the U.S. added between 150,000 and 160,000 jobs in May. That’s better than the tepid job growth in the previous two months, but far below the 250,000-jobs-a-month increase experienced during the winter.”

Also, John says, at 150,000-a-month job growth isn’t fast enough to bring the jobless rate down quickly. That’s why economists think the unemployment rate remained at 8.1 percent last month.

Stephen Stanley, chief economist at Pierpont Securities, tells Bloomberg News that 150,000 more jobs a month is a sign of an economy that’s just “muddling along.”

The Associated Press cautions that “several reports Thursday suggested that hiring could be weaker than forecast. The number of people seeking unemployment benefits rose to a five-week high, a sign layoffs may have ticked up. And businesses added 133,000 jobs in May, according to a survey by payroll provider ADP. That was better than April’s figure but not by much.”

Also weighing on the economy and the labor market, as AP notes: “The threat from Europe’s financial crisis has grown in recent weeks. The crisis is driving up borrowing costs for Spain and Italy and spreading to the banking system. Greece could be forced to exit the euro, which would likely push the region into a recession. That could limit U.S. growth.”

We’ll post on the employment news when the report comes out. [Copyright 2012 National Public Radio]

Leave a Reply

5AM to 9AM Morning Edition

Morning Edition

For more than two decades, NPR's Morning Edition has prepared listeners for the day ahead with two hours of up-to-the-minute news, background analysis, commentary, and coverage of arts and sports.

Listen Live Now!

9AM to 10AM The Takeaway

The Takeaway

A fresh alternative in morning news, "The Takeaway" provides a breadth and depth of world, national and regional news coverage that is unprecedented in public media.

View the program guide!

10AM to 11PM On Point

On Point

On Point unites distinct and provocative voices with passionate discussion as it confronts the stories that are at the center of what is important in the world today. Leaving no perspective unchallenged, On Point digs past the surface and into the core of a subject, exposing each of its real world implications.

View the program guide!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center