Jobs in July 2010 fell by 131,000 according the the US Department of Labor.
Total nonfarm payroll employment declined by 131,000 in July, and the unemployment rate was
unchanged at 9.5 percent, the U.S. Bureau of Labor Statistics reported today. Federal government employment
fell, as 143,000 temporary workers hired for the decennial census completed their work.
Private-sector payroll employment edged up by 71,000.
In June 2010 following the disappointing jobs numbers, Obama stated “we were headed in the right direction“. What say you Mr. President after these pathetic job numbers? Some thing tells me that Obama was just scratched from a couple more House and Senate campaign stops for Democrats.
Just when you thought it could not get any worse, it did. In addition, the government revised payrolls for May and June to show 97,000 fewer jobs than previously reported.
How anemic has the Obama jobs recover plan been that Obama wants to tout as working and headed in the right direction? For the first seven months of 2010, the U.S. economy added an average of less than 100,000 jobs a month. After shedding how many millions of jobs, Obamanomics can only add back less than 100K per month. UNREAL. What’s his answer … tax the people some more, provide more spending that is unpaid for in a form of welfare for teachers and call it a jobs bill.
The stock market futures are falling as a result of these poor and dismal economic numbers thanks to Obamanomics. These anemic numbers do not even represent a slow down in growth, they indicate a complete stop. No wonder President Obama’s Council of Economic Advisers, Christina Romer bolted the sinking ship. Does she still think that Obama’s stimulus plan will hold unemployment under 8%?
Here is some more bad economic news courtesy of the Obama economic recovery plan, 1.2 million discouraged workers in July, up by 389,000 from a year earlier.
Among the marginally attached, there were 1.2 million discouraged workers in July, up by 389,000
from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not
currently looking for work because they believe no jobs are available for them. The remaining 1.4 million
persons marginally attached to the labor force had not searched for work in the 4 weeks preceding
the survey for reasons such as school attendance or family responsibilities.
As Michelle Malkin states, mean while back in Spain Michelle Obama and the girls have a great time. Maybe President Obama can do some golfing this weekend and ponder the new jobs numbers?