Skip to comments.Weak private hiring shows recovery on the ropes
Posted on 08/06/2010 9:07:54 AM PDT by NormsRevenge
WASHINGTON (Reuters) Private employers added fewer workers to their payrolls in July than expected and hiring in June was much weaker than had been thought, a blow to an economic recovery that is failing to gain traction.
The dismal news on jobs poses a challenge to Democrats hoping to retain their congressional majorities in November elections, as well as to officials at the Federal Reserve who are debating whether more needs to be done to foster growth.
Overall non-farm payrolls fell 131,000 last month, the Labor Department said on Friday, as temporary government jobs to conduct the decennial census dropped by 143,000.
Private employment, a better gauge of labor market health, rose a modest 71,000 after gaining just 31,000 in June.
The government revised payrolls for May and June to show 97,000 fewer jobs than previously reported.
Analysts polled by Reuters had forecast overall employment falling 65,000 in July and private-sector hiring increasing 90,000.
"We are in the big stall," said Steve Blitz, a senior economist at Majestic Research in New York. "There's no double dip, there's no next recession coming."
(Excerpt) Read more at news.yahoo.com ...
there’s been a recovery?
Obama makes lame remark to crowd.
If you want the car to go forward you put it in ‘D’.
If you want it to go backward, you put it in ‘R’.
and if you want it to run you don’t buy from Gubermint Motors.
backward as in 4.5% unemployment?
Hey,give me a break,my wife is pissed at me!
backward as in 4.5% unemployment?
Scouts Out! Cavalry Ho!
...of course this is leading to the ULTIMATE Winter of our DIScontent, which will culminate, none-too-late, in...
N O V E M B E R
...the slow recovery will start the day after the election...
I feeeel yur pain. (/BubbaOne)
Lets have him continue conversation of redistributing the wealth, and promoting more instability in the labor sector....maybe one day he might realize what those things mean...
And, like someone said on Laura Ingraham’s show....when you are teetering on the edge of a cliff...YOU PUT IT IN R!
The Recovery's not dead yet!
Hold on to every dollar you can. Do not participate in BO’s re-election lottery. He never ran a business, and he obviously can’t run a country.
If you want it to fail, you put it in “O”.
I’m sick of all you in the private sector crying like little babies. You were “on top” for years and now you know what it’s like to be in the field pickin. So get back to work. We here at the Federal Government need our paychecks. And we have allot of people to process paychecks for too. And we’re going to make sure that our people get “their” money.........(sarc)
He ACTUALLY SAID that??
You said it, Jack Benny would be proud of us.
It's become a competition , "How low can you go", spending wise.
Even with cars, I used to think over 200,000 miles was heroic, now a guy with a Volvo is leading the pack, he's closing in on 3 million miles!
Talk about pinchin' those pennies.
The Obama reign of terror has the private sector paralyzed with insecurity and fear. It’s an economic vote of no confidence in this totalitarian regime.
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