New York (CNNMoney.com) - The U.S. economy lost jobs for the first time this year in June, as modest hiring by businesses only partly offset the end of temporary Census jobs.
The Labor Department on Friday reported a net loss of 125,000 jobs overall in the month. That was due primarily to the loss of 225,000 census jobs that had swelled payrolls by 433,000 net jobs in May. Economists surveyed by Briefing.com had forecast a loss of 100,000 jobs in June.
Business hiring rebounded to 83,000 in the latest reading, which was a bit weaker than hoped, from a revised total of 33,000 jobs in May, Besides the loss of census jobs, state and local governments cut 10,000 jobs in the month. That, and the gain of 27,000 non-census jobs by the federal government, lead to the overall loss in jobs.
Not great, but something that the members of the Party of No probably wish wouldn't have happened since they have one goal and that does not include helping Americans, expect for Big Oil, Big Business and Wall Street!
it's basically 10% if you consider everything that's going on.....
whenever you're ready Barry.... just let us know....
oh.... there's also oil spilling into the gulf at an alarming rate.... but go ahead and campaign some more in Ohio..... cause that's what you think is best.....
"the improvement was due mostly to many discouraged job seekers not bothering to look for work during the month and no longer being counted as in the labor force, not because of any gain in jobs."
NOW I get it!
So according to this logic, as time goes on and more and more people become discouraged, eventually no one will be working and the unemployment rate will be 0.0%... makes sense!
This can't be correct! Obama declared the recession over last year. Unemployment is at 0% right now. It's those Republicans that are reporting lies like this. Everything is fine. Everyone has all the money they need and jobs are available for everyone. Yes, this is sarcastic.
Wait for the July one. That will show how the Obama admin grossly overstated job growth, based on those temporary Census jobs.
The government adds 1/3 as many jobs as the private sector. Meaning of those newly hired, every 3 workers will have to completely pay for 1 government worker for the tax payers to break even. Of course this will be impossible because the government, in all it's wisdom, pays considerably more, for the same services provided, in wages and benefits, than the private sector. Their government workers, they deserve more. Gotta love the new math these guys use. Unemployment goes down because people stopped looking for work? Does anyone realize the number of people who would have to stop looking for work, for this number to drop from 9.7 to 9.5%? One of these days this administration is going to have to face the fact, that doing the same thing over, and over, expecting a different result, is the definition of insanity!
I'm sure the GOPpers here are gonna bash this good news.
Thank you Mr. President.
BUT BUT BUT........Oblamer promised us unemployment wouldn't go over 8% if only we listened to him.
And to think Pelosi just told us that unemployment checks are the most effective way of creating jobs. That woman must still be hung over from those Woodstock drugs.
What a bunch of idiots there are now running our country. Lets just hope we survive them.
Tlk about being out of touch with reality. The job market lost 125,000 jobs and the unemployment rate dropped. obama said that if he had not passed all of the spending and handouts that the unemployment rate could be 15% ( but by the same logic if the bailouts and hand outs had not been passed the rate may be 4% my guess is as good as his). Pelosi said that handing out unemployment checks was the greatest job created they had. obama said that if the illegals were not given amnesty the economy would suffer.
Do they really think all Americans are that stupid? Holder said Americans are cowards and not they are saying Americans are stupid!
How many of those lost jobs are the result of the oil spill in the Gulf of Mexico? In July, 2008 President Bush lifted the 20 year ban on deepwater oil drilling. President Al Gore would never have lifted that ban on off shore oil drilling. America will suffer for decades for the election of Bush over Gore in 2000. Gore would have concentrated on Afghanistan in 2001. Gore would not have gone to war in Iraq. Gore would have regulated wall street a little more, and the melt down could have been avoided. Gore would not have appointed oil industry supporters to regulate the oil industry. Gore would have supported stem cell research, and we would be 8 years ahead, of where we are today, in helping children and adults with deadly diseases. Gore would not have doubled the National Debt in the Good Economic times that Clinton left us, and the oil spill would not have happened if Gore had won in 2000, because the 20 year old ban on off shore drilling would never have been lifted. Is there anyone who really believes that Gore would have lifted the ban on off shore oil drilling? This spill would never have happened if the off shore drillilng ban had not been lifted. Gore knew the risk of deep water oil drilling and was unwilling to take that risk. Bush and his supporters were willing to take the risk that comes with deepwater oil drilling. We will pay for decades for the risk that Bush and his supporters took.
The mainstream media and crooked government is skewing it as usual. It's horrible out here period and we will tell you that very clearly in November
Do not tell me again that bailing out failed businesses is working. Businesses that failed because they were doing business with poor management if not illegal business models with trillions of taxpayer dollars spent to bail them out afterwards was designed to save main street. The proof is in the pudding here, all of these businesses are now back to business as usual with multi dollar bonuses and other perks that have become nothing but a reward for failure, while the average American is left to suffer.
IMHO from the very beginning taxpayer dollars should only have been used to support the American people first before the criminals that causes this crisis. All of these executives should have been investigated and charged for what everyone knows was criminal activity that ended in the loss of nearly ten trillion dollars in the US economy.
The only thing that will bring confidence back into our economy is for the honest hard working America see consequences come upon those who were responsible for this situation.
Just confirms the age old saying: "The government doesn't create jobs, it creates work".
Nice try CNN, MIXED????
Sorry, bottom line is that jobs WENT DPWN and people left the workforce in droves.
It's Bush's fault, I get that as well.
Hey Barry, YOU NEED TO CHANGE THE SUBJECT right coward, let's talk about something that nobody is screaming about NOW, immigration reform.
The worst president of my 48 years and to think someone could be as bad as Carter.......................
If this crap administration would worry about creating jobs and quit trying to cram unwanted and unwarranted new bills down our collective throats, we would be far better off! He has the audacity to try to tell us the stimulus is working, jobs have been created or saved as the jobless rates climbs to all time highs. He really must think the American people are stupid. Well, not all of us are but the dems that still believe his BS are certainly well deserving of that title!
Democrats just do not get it. Small businesses will not hire when uncertainity exists. Medical expenses are going up now and will continue to do so with Obama-care. Taxes will go up for those making $250,000 a year which includes many hard-working small business owners. This trend will continue as long as the current democratic party proposals persist.
Sorry, bottom line is that jobs WENT DOWN and people left the workforce in droves.
recession is deep
Bush lied to us a long time, as the recession got worse and worse, if he had taken any action sooner, rather than stick to the webster definition of recession, it might have helped to lessen the effects of the recession sooner
as head GOPer, Bush had no ideas about how to deal with a problem like the financial crisis except to stick his head in the sand 'while Rome burned'
we are so lucky to have Obama
So, if according to the GObP, the Census jobs didn't count when they were added, why are they counting them now that they are gone? These are the games the right-wing plays, and why all of America should despise them.
I am so greatful that the Republicans are no longer in control of the government. At least we are adding jobs, yes too slowly, but that is because Reppublicans vote no for the things that could speed jobs creation. After 8 years of the failed Republican polices of tax cuts for the rich, tax increases for the middle class, and endless war creationl we were loosing 750 million jobs. This country can not afford to let Republicans back in control or we will be right back in the massive jobs losses. There will only be the uber wealthy and the poor.