June 2010 Jobs Report: 125,000 Jobs Lost, 9.5% Unemployment & 625,000 Workers Just Gave Up

Obama in Wonderland, talk about a US economy in Obamaland. Obama says that America is moving in the right direction.  America, how’s that ”Hopey, Changey” stuff working out for you?

Only with Obama in Wonderland can the creation of 83,000 private sector jobs, while 625,000 people just gave up looking for employment be considered a step in the right direction.

Obama’s $862 billion stimulus plan gets us no job creation and a mountain of debt for years to come. Obama praises the stimulus while 29% of American voters agree with Obama and 43% say that it hurt the economy.

The United States lost 125,000 jobs in June, the unemployment rate was at 9.5% and 625,000 people just gave up looking. With economy numbers like that, the delusional “Misleader” in Chief praised the jobs report and said that we were headed in the right direction. UNBELIEVABLE!!!

Even the AP is accurately reporting that the June jobs report is dismal and why the unemployment rate came down. AP reports that  the economic data points to a slower growth in months to come, not an increase.

Many of the jobs that were lost were the temporary Census working jobs; however, Obama certainly took credit for those same jobs when they were added to the work force. Sorry, you cannot count something as a job created if you know it’s temporary and will be  net gain of zero. Some on the LEFT and Obama looked to the fact that the unemployment rate dipped to 9.5% from the previous month’s 9.7%. It is hardly encouraging news when the reason why the unemployment rate lowered was because 625,000 discouraged workers just gave up.

The US economy lost 125,000 jobs in June, more than economists had forecast, as thousands of temporary census jobs ended and private hiring grew less than expected.

And though the unemployment rate unexpectedly fell to 9.5% from 9.7%, the lowest in a year, it was largely due to more people dropping out of the labor force.

The report was the latest sign that the economic recovery may be faltering.

“Overall what this does is it reinforces the market’s view that the U.S. recovery is losing steam,” said Greg Salvaggio, vice president of trading at Tempus Consulting in Washington.

With Barack Obama touting his economic stimulus plan as a success, it is obvious to all rational, common sense thinking people that it has been a complete and total failure. Month after month the jobs reports come in under analyst expectations and a mere 83,000 private sector jobs were created. This is hardly a recovery.

Obama claims that the economy is moving in the right direction, REALLY? From what perspective, socialism? Housing sales down, uneremplyment up, no real private sector jobs created, people leaving the job search market in grove and some how Barack Hussein Obama thinks we are headed in the right direction. What, over a cliff?