wonder why the President spoke to U.S. about jobs before this latest report...
As The Pretty Woman told U.S.: "Mistake, big mistake."
All she had was Richard Gere's credit card to use.
Obama has a few more shekels than that to play with.
Heck of lot more than we do.
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Bloomberg
Obama’s Optimism Puzzles Investors on Jobs Forecast
President Barack Obama’s upbeat comments on the U.S. job market earlier this week left investors and analysts puzzled after a government report today showed payroll growth was weaker than forecast.
“People definitely felt suckered into thinking this was going to be a good number,” said Kevin Shacknofsky, who manages $2.2 billion for Alpine Mutual Funds in Purchase, New York. “The expectations for the jobs data were driven up and the market rallied earlier in the week when the president hinted the job number would be great.”
Private payrolls rose by 41,000 in May, Labor Department figures showed today, trailing the 180,000 gain forecast by economists. Including government workers, employment rose by 431,000 after a 290,000 increase in April, boosted by a jump in hiring of temporary census workers. The jobless rate fell to 9.7 percent from 9.9 percent.
Obama, speaking June 2 in Pittsburgh, said that “after losing an average of 750,000 jobs a month during the winter of last year, we’ve now added jobs for five of the last six months, and we expect to see strong job growth in Friday’s report.”
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