PETER MORICI: We just didn't fix what was broken

PETER MORICI -- Economist and University of Maryland professor on the state of the economy.

Unemployment ticked up in May to 9.1 percent as private employers added 54,000 jobs, far fewer than economists were expecting, capping a week of gloomy economic news.

The Bureau of Labor Statistics announced the May unemployment figures Friday, and few were pleased given the string of negative economic reports.

Economists had expected more than 150,000 new jobs, and there was consensus that unemployment would edge down, not up. Nonfarm payrolls increased 54,000 last month, with private employment rising 83,000 -- the least since June. Government payrolls fell by 29,000.

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