What recovery? Flat jobs data signal weakest recovery in decades

[woo me with science]

http://finance.yahoo.com/news/Flat-jobs-data-signal-weakest-apf-2182606890.html?x=0&sec=topStories&pos=7&asset=&ccode=

Flat jobs data signal weakest recovery in decades
What recovery? Unemployment remains high and jobs scarce 2 years after Great Recession ended
Paul Wiseman, AP Economics Writer, On Friday July 8, 2011, 5:24 pm EDT

WASHINGTON (AP) -- The job market is defying history.

A dismal June employment report shows that employers are adding nowhere near as many jobs as they normally do this long after a recession has ended.

Unemployment has climbed for three straight months and is now at 9.2 percent. There's no precedent, in data going back to 1948, for such a high rate two years into what economists say is a recovery.

The economy added just 18,000 jobs in June. That's a fraction of the 90,000 jobs economists had expected and a sliver of the 300,000 jobs needed each month to shrink unemployment significantly.

...
But the June numbers were even worse than May's, even though gasoline prices are falling and factories revving up again.

"This is a remarkable, across-the-board backslide," says economist Heidi Shierholz of the Economic Policy Institute.

Sometimes disappointing economic reports look better on closer inspection. This one gets uglier...

(more at link)

[hfojvt]

1. not this shit again

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=1458072&mesg_id=1459644

If Bush was President, he'd be touting "9 straight months of positive job growth" and also hammering Republicans for creating uncertainty by refusing to raise the debt ceiling, and pointing out that their budget cuts are slowing down the economy.

Instead, we just love to help the RWNM - "Obama has failed to create jobs" "the Obama economy is awful" "no more blank checks" "vote Pawlenty 2012"

[DemocratSinceBirth]

4. Bush And The Pugs Paid Heavily For Wrecking The Economy

They lost the House,Senate,and Presidency.

This economy sucks.

[democrat_patriot]

2. When states are gutting jobs - it reverses any gains in the private sector.

And with the deficit reducing cuts - expect more unemployment.

[woo me with science]

3. That is what is so surreal about these press conferences.

It is beyond disturbing to see a Democratic President claiming with a straight face that the jobs crisis underscores the need to attack the deficit NOW.

300 Economists Warn Obama to Focus on Jobs, Not the Deficit
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x560332

[Doctor Hurt]

6. you don't get it.

Dealing with the deficit takes it off the table. In fact, Barack said as much that was his srategy:


http://www.washingtonpost.com/blogs/plum-line/post/what-if-obama-is-right-about-the-deficit/2011/03/28/gIQA9kXP9H_blog.html

But could we imagine a project where we’re rebuilding roads and bridges and ports and schools and broadband lines and smart grids, and taking all those construction workers and putting them to work right now? I can imagine a very aggressive program like that that I think the American people would rally around and would be good for the economy not just next year or the year after, but for the next 20 or 30 years.

...

But we can’t even have that conversation if people feel as if we don’t have our fiscal house in order. So the idea here is let’s act now. Let’s get this problem off the table. And then with some firm footing, with a solid fiscal situation, we will then be in a position to make the kind of investments that I think are going to be necessary to win the future.

Obama believes this gives him the room to pivot to jobs. Unfortunately, most people don't believe in deficit spending anymore. If this strategy works, it obviates that problem.

Take issue with the strategy if you will, but it's fairly clear this is the goal, and it is a good goal.

[Cosmocat]

5. It is mind numbing ...

the Rs have the MSM doing their job for them AGAIN, like they did to force Iraq and keep the Ds on the defensive about national security for half a decade after 9-11 ...

The NEAR NONEXISTANT connection between the federal deficit and the economy is seen as THE GOLDEN TRUTH, and while the private sector has made modest gains in jobs growth, the GOP has succeeded in erasing those numbers and more by loses of government jobs in the name of reducing the deficit, and screaming about how the president is not creating any jobs ...

Whisky
Tango
Foxtrot

[JoePhilly]

7. So unemplyment is at 10.2% and increasing?????