CBS News: Rotten May jobs report underscores weak recovery
Maddow Blog: Brutal new jobs report disappoints
Washington Post: The labor market takes a big step backward
CNNMoney: Hiring slows, unemployment rises
New York Times: Weak U.S. Hiring Adds to Global Gloom
But not all is bad news today. The Economist gives us a bright spot:
“AMERICA’S ’unconventional’ gas boom continues to amaze … America’s gas boom confers a huge economic advantage. It has created hundreds of thousands of jobs, directly and indirectly. And it has rejuvenated several industries, including petrochemicals, where ethane produced from natural gas is a feedstock.”
A bright spot that some want to shut down:
“… the Sierra Club, is mounting a major campaign to kill the industry … the goal is to shut the industry down, not merely to impose higher safety standards … The political irony is that not too long ago the Sierra Club and other greens portrayed natural gas as the good fossil fuel … So why is the Sierra Club suddenly portraying natural gas as a villain? The answer surely is the industry's drilling success … now that the hydraulic fracturing and shale revolution has sent gas prices down to $2.50, the lobby fears natural gas will come to dominate U.S. energy production. At that price, the Sierra Club's Valhalla of wind, solar and biofuel power may never be competitive. So the green left has decided it must do everything it can to reduce the supply of gas and keep its price as high as possible ...The Sierra Club campaign underscores that the modern green agenda is about far more than clean air and water and protecting wildlife. The real goal is to ban all fossil fuels—regardless of economic cost."
The Sierra Club’s dream is to go “Beyond Oil” and now “Beyond Natural Gas.” Our energy reality is that oil and natural gas provide the majority of America’s energy today, and will continue to do so for years to come.
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