Job Creation 127,000 Short of "Forecasts" - Oil Plunges

Posted by Jim Spence on Wednesday, June 1, 2011
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Bloomberg - Crude oil dropped the most in three weeks after data showed that U.S. companies added fewer jobs than forecast last month and the expansion of manufacturing slowed, bolstering concern fuel demand growth will weaken. Oil fell as much as 2.7 percent after ADP Employer Services said employment rose by 38,000 in May, the smallest gain since September. A 175,000 increase in was forecast, according to a Bloomberg News survey. The Institute for Supply Management’s factory index decreased to the lowest level since September 2009, the Tempe, Arizona-based group said today.  “We’ve received disappointing economic news all week,” said Peter Beutel, the president of Cameron Hanover Inc., an energy advisory company in New Canaan, Connecticut. “Consumers are fearful about the future, which translates into lower fuel demand. Read full story here: News New Mexico
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1 comments:

Anonymous said...

But...but...didn't the anointed one declare that the recession was officially over last year? Or...was that in 2009? Anyhow, it would appear Mr. Obama's anti-business and tax hiking jihad has finally turned us back towards the cliff we're about to be pushed over all in the name of SOCIAL JUSTICE! Are all of you Obama lovers satisfied now? No? How BAD does unemployment and home foreclosures need to get before the electorate comes to grip with the rotten leadership and the brain dead stubborn continuance of miserably failed economic policies? Now...what's the definition of insanity? Blame Bush?

June 1, 2011 at 3:32 PM

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