Jul 08 2011

How’s that austerity thing working out Barack?

Confidence fairies creating jobs yet?  Or are you going to go into 2012 with 10% Unemployment expecting to win?

Electoral victory my ass.

Job Growth Falters Badly, Clouding Hope for Recovery

By CHRISTINE HAUSER, The New York Times

Published: July 8, 2011

The United States economy added a meager 18,000 jobs in June, up from a gain of a revised 25,000 jobs in May (Herry Monster and John John should teach either Christine or the Labor Department a lesson on Up and Down), the Department of Labor said on Friday. The unemployment rate rose to 9.2 percent from 9.1 percent in May, the department said.

…

The report said that 14.1 million people were out of work in June, among them 6.3 million who have been jobless for six months or longer. In May, the total number of unemployed people was reported as 13.9 million, with the long-term unemployed at 6.2 million.

The numbers showed the continuing challenges of adding jobs to the economy even at a rate that keeps pace with population growth, two years after the official end of the longest economic downturn since the Great Depression.

Friday’s report showed that 39,000 government jobs were cut in June. The previous month, 28,000 local government and 2,000 state jobs were cut, as states and towns dealt with tighter budgets.

…

Economists have ratcheted down their forecasts for the overall growth of the economy, with some estimating an annual rate of about 2 percent or slightly more for the second quarter.

Can you say douple dip?  I knew that you could.

Unfortunately for Barack a Recession is not ice cream.

rustymancuso581

2 comments

  1. Of course the only solution is to clap harder, otherwise Tinkerbell will die!

  2. From the Washington Post:

    A broader measure of unemployment that includes those who have given up looking out of frustration and those with part time work who want a full-time job rose to 16.2 percent, from 15.8 percent.

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