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US Economy Adds Only 18,000 Jobs, Unemployment Rate Rises To 9.2%

  • 09-07-2011 9:53pm
    #1
    SharpshooterTom
    Registered Users, Registered Users 2 Posts: 3,017 ✭✭✭


    http://www.bbc.co.uk/news/business-14081789

    Only 18,000 nonfarm payroll jobs were created, a disaster for the Obama administration with unemployment ticking up yet again to 9.2% this time.

    Disappointing news, his approval rating will probably take a hit once again, America needs to create 200,000 jobs a month for the next 5 years to get below pre-recession levels. Certainly not a task I envy taking on....


Comments

  • #2
    Denerick
    Banned (with Prison Access) Posts: 6,488 ✭✭✭Denerick


    Unemployment is always slow to decrease after a balance sheet recession. Insane cuts in government spending will not help the unemployment situation.


  • #3
    Overheal
    Registered Users, Registered Users 2 Posts: 86,729 ✭✭✭✭Overheal


    Analysts seem to think government stability is the issue, what with stimulus packages screwing up the free market concept and the rollout of healthcare which has a direct impact on payroll. Necessary in part perhaps but very messy.

    Either way the heads on CNBC are starting to call it a job-less recovery: the economy and numbers are improving, despite the jobs market lagging behind.


  • #4
    Amerika
    Closed Accounts Posts: 5,176 ✭✭✭Amerika


    I don’t know what all the fuss is about regarding jobs. Remember President Obama's State Of The Union address earlier this year? Remember how he promised to hire 10 million unemployed Americans into federally funded jobs by the end of the year with his “America Works” initiative?

    And where are they going… to “work repairing highways and building high-speed rail, constructing and repairing schools, restoring and expanding parks and recreation facilities, planting trees, tutoring kids, providing day care, caring for the sick and elderly, policing our streets and neighborhoods, putting up new, environmentally responsible power plants, cleaning up pollution, building homes for the homeless, helping update and replace the equipment for our military.”

    Of course everyone knew they won’t possess the skills needed to fill those jobs right away, so he pledged to hire them immediately regardless of their skills and to start them in immediate job-retraining for three to six months... at full pay.

    By my calculations he still has 6 months to fill those 9,950,000 open jobs. A daunting task for most, but not when you have on your side: “Hope”, “Change”, “Yes We Can”, and “Winning The Future.” WTF... just about right!

    http://www.thedailybeast.com/articles/2011/07/08/u-s-budget-michael-medved-s-recurring-nightmare-on-obama-and-jobs.html


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