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Originally posted by sgtclub
http://www.foxnews.com/story/0,2933,161898,00.html

Unemployment drops to 5.0%, lowest since pre-9/11

Ah yes, but as is so often true with Fox News, there's another shoe to drop. According to money.cnn.com:

• But the department's survey of employers showed they added just 146,000 jobs to payrolls in June, up from a revised 104,000 in May. That was well short of the average forecast for a net gain of 195,000 jobs last month, according to economists surveyed by Briefing.com.
  
  "The improvement in the unemployment rate has been very steady, which looks very believable," said Mark Vitner, senior economist with Wachovia Securities. "It points to a probable undercount in (payroll) employment."
  
  June marked the ninth time in the last 12 months that employer payrolls came in weaker than forecasts. The 146,000 jobs added last month is barely enough to keep up with growth in the labor force, according to most economists, and it trailed the average increase of about 172,000 jobs a month added over the last 12 months.
  
  John Challenger, CEO of outplacement firm Challenger Gray & Christmas, said employers are clearly still more cautious about adding employees than in past expansions.
  
  "With the economy growing at a steady pace and healthy corporate earnings, the lack of much stronger job growth is a mystery," he said in a statement.
  
  Challenger said part of the problem is employers' doubts about the strength of the current economic expansion. He said there is "concern that a sudden jolt to the economy could bring down this house of cards," adding, "The terrorist attack in London yesterday serves as a reminder that we are still vulnerable."