A second straight month of paltry job growth in June sent the unemployment rate rising to 9.2 percent, showing that the economy remained in a deep pause, the Labor Department reported Friday morning.
The meager job gain of 18,000 during the month follows a gain of only 25,000 in May after the economy registered strong growth of more than 200,000 jobs in the first four months of the year. The spring hiring freeze caused the unemployment rate to edge up from a low of 9 percent in April, but it still remains far below the 10 percent level seen during the recession.
Even the normally robust education and temporary help sectors saw layoffs last month, while health care eked out anemic growth of 14,000 jobs — about half the usual rate. Job losses continued in government, with the federal government joining state and local governments in laying off 14,000 employees.
Most of the 57,000 jobs created by the private sector last month were in leisure and hospitality businesses, which registered a gain of 34,000. Manufacturing employment ticked up only 6,000 after growing at double-digit rates earlier this year.
The weak jobs report is sure to be hugely disappointing on Wall Street, where many forecasters on Thursday had raised their predictions of jobs growth based on signs earlier in the week that the job market was on the mend. The Dow Jones Industrial Average immediately dipped by over 100 points in the first few minutes of trading in New York.......................>>>>......................>>>>....................http://www.washingtontimes.com/news/2011/jul/8/weak-job-gains-send-unemployment-9-percent/
Soooooooooo.....how's that stimulus/bailout working out for ya???
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
I wonder what the excuse from Obama will be this time, maybe they need another billion dollar stimulus plan to get those "shovel ready" jobs going
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
Ya really have to wonder if, when Obama was running for pres, whether he was talking to Stratton, Savage, Gillen, and Morris, because he's basically doing the same thing, taking from the struggling taxpayers and just handing money out left and right.
Just like Obama's pollicies are not creating good jobs, so to are Schenectady's dems.
NO ONE in Schenectady dem team has provided any details on what the 3,500 alleged "created" jobs are. All we know is that some EXISTING LONG TIME jobs moved from one street to another, and then a few low wage dishwashers and ticket takers. All this while downtown businesses struggle, fail, and close
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
Logged
Everything Obama or that Metrograft bozo Death Ray says is immediately shovel ready. Two manure spreaders in a wind storm.
