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Unemployment Rate Rises to 8.2%

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  • Description

    FBN’s Peter Barnes breaks down the bad numbers from the Labor Department.

  • Duration 1:36
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Rose to eight point 2% in May just 69000.

New nonfarm payroll jobs created last month.

Well below expectations.

The labor force participation rate rose in -- to 63 point 8% up two tenths of a percent.

There was a major downward revision and nonfarm payrolls in April.

The Labor Department originally reported a 1151000.

New jobs and April now it says that the economy created just 77.

1000 new jobs in April.

That means job creation has come in below -- 100000 jobs a month.

For the last two months in a row and we haven't seen that since the summer stall out and job creation.

Last year in the first quarter the economy created about 222000.

Jobs a month on average so -- big drop off in job creation.

-- nonfarm payrolls nonfarm jobs for march also were revised down slightly by 111000 jobs to just a 143000.

-- six the widest and our measure.

Of unemployment rose to fourteen point 8% in May.

From fourteen and a half percent in April these are marginally attached.

People working.

A part time for economic -- reasons and then the larger rather than the smaller overall unemployment number economy created 82000 private sector jobs in May.

But government federal state and local -- Thirteen thousand getting to the net new jobs number nonfarm payroll number of 69000.

Jobs Connell.

It we thought ugly and -- looks like we're getting ugly Peter thank you very much and we will.

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