Today’s jobs report

On the first Friday of each month the Labor Department releases the employment report for the prior month. In the White House we used to call it Jobs Day, and it’s a fairly big deal when the economy is in transition.

Today is Jobs Day. Here are the two most important facts from the May employment report:

  • The U.S. economy lost a net 345,000 jobs in May. This bad news beat expectations, so markets reacted positively.
  • The unemployment rate jumped from 8.9% to 9.4%, the highest since August 1983.

In an effort to build traffic, I am going to start posting occasionally on other blogs and websites. So you can read today’s post on the Jobs Day report on National Review Online’s The Corner. I hope you don’t mind the extra click.

Continue reading “Today’s jobs report” on The Corner…