...a further sign the economic recovery may be losing momentum...
In a related story, we have discovered evidence that this ship may be losing momentum...
Posted on 08/06/2010 6:24:56 AM PDT by Upstate NY Guy
Edited on 08/06/2010 6:32:53 AM PDT by Admin Moderator. [history]
WASHINGTON -- The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum. Nonfarm payrolls fell by 131,000 last month as the rise in private-sector employment was not enough to make up for the government jobs lost, the U.S. Labor Department said Friday. Only 71,000 private-sector jobs were added last month while 143,000 temporary workers on the 2010 census were let go.
(Excerpt) Read more at online.wsj.com ...
“The perception that there is job growth and an economic recovery is underway appears to be a myth,” said Todd M. Schoenberger, managing director, LandColt Trading.
“The foundation for employment growth occurs in promising consumer sentiment and confidence readings — both of which continue to be frighteningly low,” Schoenberger said.
“Unexpected”....ping!
“than expected”
The “Bush recession” becomes the “Obama depression.”
Recovery Summer! Stay away from me!
Recovery Summer! Mama let me be!
Time to "SHED" some people in DC!
The only reason the unemployment rate held steady is because hundreds of thousands of people are abandoning even looking for work. And the MSM has the nerve to call this a ‘recovery’??
Once again more job losses but the unemployment rate stays the same. How strange, it is almost as if they are manipulating the numbers to protect Bozo’s a** isn’t it?/Sar
DRINK! I’m am looking to change jobs (currently in the private sector/pharmaceuticals/ IT dept) due to a twenty something clone-of-chelsea shrew who is intolerant of anyone over 40 in her dept.
So far the only interviews I’ve had are with the PUBLIC sector; then again I live in the horrendous state of NY.
MYTH hell... LIES!!!!!!!!!!!!
LLS
Every month we keep losing jobs and more jobs, but the unemployment rate never goes up. Somebody is manipulating these figures. There is no way it cannot keep from going up!
A quarter of the country can’t find full employment,and the Obama’s jet-set around the globe on vacation after vacation............................on the public’s dime!
We’re starting to hear the “Structural Unemployment” mantra being tested.
This means, just like Europe, “Get used to it folks. It will ALWAYS be 10% unemployment!!!
There was no recovery to begin with.
Recovery Summer! Mama let me be!
I don't need your Geitner machine
I don't need your Obama scene!
Recovery Summer.
It'll take years to dig out of this hole.
Sparkle Maynard Keynes's eyes...
Recovery Bummer!
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