The L.A. Times brings us the unexpected news. Hope! Change! Rainbows! Unicorns! Obama is Awesome!
The U.S. employment picture went from bad to ugly last month as employers added almost no new net jobs and the unemployment rate edged up for the third straight month, to 9.2%.
The report Friday from the Labor Department is sure to be a huge disappointment and will raise fresh questions about the sustainability of the recovery, now technically starting its third year.
Analysts had raised their job-growth forecasts for June to 100,000 or more in recent days, hopeful of a rebound after surprisingly few job gains in May, which many attributed to temporary factors such as Japan’s earthquake and the spike in oil prices.
