Unemployment 9.7% despite massive Fed Hiring

Massive hiring of 411,000 temporary census workers helped push down the unemployment rate in May, but the nation's private-sector employers added only 41,000 new jobs last month, the Labor Department said Friday.

Only 41K jobs were created, far less than the projected 175K jobs for May.

Despite spending $787 billion on the American Recovery and Reinvestment Act (ARRA) has had little or no effect on job growth in America. VP Biden still promises 3.5 million jobs, but that sounds more like an empty pledge and not founded in any real statistical calculation.

House Minority Leader John Boehner (R-Ohio) said:
"The president promised his ‘stimulus’ plan would keep unemployment below eight percent and create jobs ‘immediately,’ yet the unemployment rate remains unacceptably high at 9.9 percent, millions Americans have lost their jobs since the ‘stimulus’ was enacted, and one out of 10 remain out of work."

Just wait till the end of summer when the temporary jobs are gone. 

9.7% is a joke....the "real" figures are closer to 20%.

 

The fed does not count the people when their unemployment runs out,they only count current on the rolls unemployed. The entire economic disaster is one big joke.

I didn't think they ever took it off since day one.