New York (CNNMoney.com) - For the second month in a row, the U.S. economy shed jobs as the government continued to unload Census workers, offsetting gains in private business hiring.
The Labor Department on Friday reported a net loss of 131,000 jobs in July, an improvement from the revised loss of 221,000 jobs in June.
The loss was due to the end of 143,000 temporary Census jobs in the month, but hiring by businesses also continued to be weak, as those employers added only 71,000 jobs in July.
Going in the right direction!
The Economy stinks! Obama will state as usual, " I saved or created jobs." Like at the Ford plant, Mr. Obama Ford Motor Company saved itself, you had nothing to do with it. Years ago Ford's started to scale back and make changes, long before you where in the Senate. Mr. President take ownership of the mess you have made and the money you have wasted on your so call stimulus bill. You have enabled many good workers to become depended on Big Government, instead of becoming self sufficient.
And this is a surprise? When an administration tells the private sector that their taxes are going up, their business costs are increasing (health care/financial reform), other costs MAY go up (Cap & Trade, etc. creating uncertainty) then OF COURSE businesses will hold off hiring!!
The most dangerous topic to a business is UNCERTAINTY and this administration has supplied PLENTY of that!! This administration is so incompetent they have NO IDEA how an economy really works and has CAUSED this drastic recession.
The solution is easy: tell businesses what to expect, lower their business costs (short term – one to two years) and you will see economic growth like you won't believe. But, according to this administration, that would "benefit the rich" and of course they won't let THAT happen. So this administration would rather let the economy simply "tank". What incompetence by this administration.....
Tell me it isn't true – Biden said the Stimulus is a resounding success – what is this? Who is lying here?
Oh, must be Bush's fault – that is all the lame empty suit Obama can say – he doesn't have a clue.
The Dems have controlled Congress since 2006 and the White House since 2008. It's clear that Obama knows nothing about the economy or job creation. Are they still going to blame Bush?
remember how low unemployment was prior to the Dems taking control of Congress in 06/07?
republicans keep crying where are the jobs when they know darn well where the jobs are -they were shipped overseas during the the republican reign of terror bi -there corpperate buddys
I'm sure everyone will come down on the President for not fixing this mess fast enough. Patience is not a virtue shared by many Americans. They want things done yesterday and if you can't deliver, these morons will vote the same idiots that started this mess right back into office.
Jobs? I'm an experienced Electronic Engineer and have been looking for work for over 2 years. Nothing... No unemployment anymore and no jobs.
You can try to spin this report any way you want but it's still a terrible disappointment that after all these months in office this is the best that this president can do.Time to blame BUSH some more.
Jobs/economy/housing/ automotive & manufacturing have all went straight down the tube since dem'm took control of congress in 2006
Bash Bush all you want but presidents have no power. Only congress and senate.
Nov can't get here soon enough
Unemployment rate want change soon employers not hiring Lot of rumors out there tea party spread those rumors with blessing of GOP . Obama administration not fighting back aggressively
People are confused and no confidence
How about a true measurement of those without jobs? Stop tweaking the metric! 9.5 % my eye! How about adding in all those who are on welfare, count all those who have been dropped off the unemployment insurance rolls!
IMHO the unemployment rate is closer to 18% and rising fast.
With and adminstration and policies built on lies, deceit and corruption as well as far left priorities rather than common sense what else could happen. Sorry folks, we can start draining the swamp in November, but we are stuck with the big alligator until 2012. Hopefully by then the competent adults can take over running this government again
The stimulus is working exactly the way the white house planned. It's the summer of recovery. Sure
Heck of a job, Obama.
By the way, Obama... your community called. It needs to be organized.
Smoke and mirrors what they touted as job growth a while ago is coming bak to bite them now. Let the tap dancing begin
And the GOP is LOVING it. With the options dwindling on how best to deal with the America-hating GOP, Civil War is fast becoming the only option to eradicate the scourge of conservatism once and for all.
No incentives to add more people to payrolls when they can make more profits with fewer employees.
Yes it's time to admit that massive government spending does not revive a down economy. Can we agree on that now?
Unfortunately, the gambles made by this administration and congress reach way into the future with the huge borrowing that will not be paid back for decades or maybe even generations.
On the bright side, Obama yesterday dumped his Chief Economic Advisor Christina Romer. It's a start.
And Republicans refuse to vote on a jobs bill for Small business they helped created just for publically reason only. Republicans are praying things don’t get better so they can get those angry voters to come out in vote them. They believe the angrier the people are the more votes they will get. What a bunch of sick puppies the Republicans in Congress have become. All they care about is winning at what ever cost.
And what are the Republicans and Congress doing nothing but grand standing and stopping and progress for publically gains. I never seen so much hate and obstruction coming for one party it is not funny.
The Corporate lowlifes are attemping to blackmail the American middleclass,lets show them that the consumer and customer is always the boss,fight them tooth and nail,with boycotts and every tool we have.
As the corporations continue to "sit" on their money and gripe about regulations and such, we, the middle class citizens are the ones being affected. How does it feel to be governed by corporations? Get used to it....