Skip to comments.U.S. jobs data points to recovery losing momentum
Posted on 05/31/2012 4:50:13 PM PDT by Oldeconomybuyer
(Reuters) - Private payroll growth picked up only slightly in May and claims for jobless benefits rose last week, suggesting the U.S. labor market recovery was losing steam after a strong performance early in the year.
Other data on Thursday showed factory activity in the Midwest slowed considerably in May and economic growth in the first quarter was a bit softer than initially estimated.
Economists said the reports reflected business anxiety amid an uncertain global economic outlook as the euro zone's debt crisis escalates and China's economy slows.
"The economy is growing at an anemic pace and the job market is showing some signs of hesitation in the pace of hiring. There is a lot to worry about," said Paul Edelstein, an economist at IHS Global Insight in Lexington, Massachusetts.
(Excerpt) Read more at reuters.com ...
1. Cut tax rates to restore incentives for economic growth.
2. Spending reductions, including a $31 billion cut in spending in 1981.
3. Anti-inflation monetary policy restraining money supply growth.
4. Deregulation, which saved consumers an estimated $100 billion per year in lower prices. Reagans first executive order, in fact, eliminated price controls on oil and natural gas.
Sounds like an election year set-up. The 'republican congress' fault.
Though I must admit, as unusually off balance as the democrat/media complex has been lately I don't think it will work.
You can gather momentum going downhill. ;-)
Bush’s fault no doubt.
there never has been a recovery
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