Posted: Jun 1, 2012 4:15 PM
Source: Associated Press
WASHINGTON - The stock market is down and the presidential rhetoric is heating up in the wake of some disappointing economic data that came out today.
The Labor Department says U.S. employers added 69,000 jobs in May. That's the far fewer than had been expected and with downward revisions of the jobs numbers for March and April, the nation's unemployment rate rose slightly to 8.2 percent.
Republican presidential candidate Mitt Romney jumped on the bad news to continue his criticism of President Barack Obama's economic policies. Romney termed today's number "devastating news" and said it was an indictment of Obama's handling of the economy.
President Barack Obama says the report shows the economy is not creating jobs "as fast as we want," but he's pledging: "we will come back stronger." He spoke in Minnesota where he's pushing his proposal to expand job opportunities for veterans.