Devastating: Prior job reports revised downward. Job creation in May craters. Unemployment rises to 8.2%. Markets swoon . . . Germany’s Dax off over 3%.
WASHINGTON (AP) — The U.S. economy suddenly looks a lot weaker. U.S. employers created only 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up. The dismal jobs data will fan fears that the economy is sputtering. It could also damage President Barack Obama’s re-election prospects. And it could lead the Federal Reserve to take further steps to help the economy.
Ummm, Mr. Bernanke, please don’t help us. You’ve done quite enough.
That banging sound, Mr. Obama? That’s the sound of coffin nails sealing your electoral fate.