U.S. Job Market Picture Improves At "Heartbreakingly Slow Pace"

[Purveyor]

WASHINGTON, Aug. 2 (Xinhua) -- U.S. unemployment rate edged down to 7.4 percent in July from 7.6 percent in the previous month, reaching its lowest level since December 2008, with newly added jobs fewer than market expectations, fresh evidence that U.S. job market is improving at a steady but too slow pace.

MODEST JOB GROWTH

Total nonfarm payroll employment increased by 162,000 in July, the fewest since March, with the private sector creating 161,000 jobs last month. U.S. governments at all levels added a meager number of 1,000 jobs last month against the backdrop of across-the- board spending cuts, U.S. Labor Department reported Friday.

U.S. economy has now added private sector jobs for 41 consecutive months, and a total of 7.3 million jobs have been added over that period. So far this year, 1.4 million private sector jobs have been created, U.S. governmental figures showed.

While more work remains to be done, the latest employment report provides further confirmation that the U.S. economy is continuing to recover from the worst downturn since the Great Depression, Alan Krueger, Chairman of the White House Council of Economic Advisers, said on Friday in a statement.

Almost all the payroll gains occurs in the private sector last month. Government employment continues to be a source of job market weakness, Gary Burtless, a senior fellow at the Brookings Institution, said Wednesday in an analysis article.

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http://news.xinhuanet.com/english/business/2013-08/03/c_125110252.htm

[Deep13]

1. It's the auserity! Pay the people, not the banks! Tax the rich! nt

[bhikkhu]

2. There's plenty of legislation ready that would improve things quickly

the American Jobs Act, for instance, which was already passed by the senate. It would reduce the deficit and generate some 1.5 million jobs. All we would need is for the house to pass it...

[bluestate10]

3. No jobs bill will pass until voters remove republicans House members in every

district that they can be defeated in. Any person that votes for a republican House member in California, the Midwest, Middle-Atlantic Seaboard, or Northeast is a damned fool. If republicans in those regions are reduced by half, democrats gain enormous power, or outright retake the House.

[BeyondGeography]

4. Republican sabotage

Sequestors when we need investors. Sick and poisonous.