NEW YORK (CNNMoney) – The job market hit a major roadblock last month, as hiring slowed to a crawl and the unemployment rate unexpectedly rose.
The economy gained just 18,000 jobs in the month, the government reported Friday, sharply missing most expectations and coming in even weaker than the paltry 25,000 jobs added in May. Economists were eagerly awaiting this month's report, following a dismal report from May that originally showed a gain of just 54,000 jobs.
I am surprised to see a net gain in jobs at all with all of the public sector jobs being cut recently. Jobs losses will continue to increase as more cuts take effect, which will lead to higher first time unemployment figures.
But, bear in mind that these are public sector losses, which are being balanced by private sector gains. Notice that this is the exact opposite of the conditions we have seen the past two years where we saw public sector increases and private sectors declines.
Let's hope the decline in government spending does not weaken the economy. The only way out of deep recession is through spending, which "primes the pump" until it can run on its' own.
Republicans are to blame. Recovery was steady until the Republicans got elected in 2010. When elected Republicans are slashing budgets, which cut jobs and increase the unemployment rate. People want cuts, but have to understand the job losses come with cuts. I hope the voters understand this. Funny how the Republicans are now pouncing on the new job numbers and blaming Obama when they are the ones cutting the jobs.
John Boehner and Eric Canter,where are the jobs you promised? We gave you super majority mandate to create jobs. Where are they?
Lesson folks for the millionth time trickle down don't work, tax the rich and start massive infrastructure and transportation creations. We need to keep the money in America and stop giving it to the rich, who are outsourcing trillions out of the country, then leaving us with nothing. Dems you need to start focussing on the demand side and stop following the repugs around like puppy dogs, as their one focus is the supply side and the rich. Obama has set these rich folks for success in the deal that they would help out the American people, but Obama forgot that these rich folks don't work for the American People, they work for their share holders, who are putting tremendous pressures on these CEO to make money any means possible, that means overseas for cheaper labor. It's time Americans start taking care of ourselves and demand the government to create millions of jobs to modernize our country infrastructure for our future generations.
The U.S. economy needs to create 125,000 to 150,000 jobs per month just to keep up with the number of new workers who are entering the workforce.
25,000 jobs were created in May 2011. 18,000 jobs were created in June 2011. We are going backwards, not forward.
Obama is in very big trouble.
If some intelligent creature visited us from Mars, they would be very confused by the Twisted Political Rhetoric used by people.
I literally have heard the same people – – in the SAME PARTY – – say that the President isn`t creating jobs. Then they turn around and admit that the governments don`t create jobs.
So let`s get this straight:
GOOD – Government spends money [gives out tax break loopholes & cuts rates] and Businesses don`t hire.
BAD – Government cuts spending [recinds tax breaks and let`s unfunded tax cuts expire], government hires companies to build needed infrastructure [Stimulus], these companies hire/employ workers to do the work in the process keeping more people employed than otherwise would be.
The Martians would call us idiots and likely decide we could easily be conquered.
In hindsight, maybe the money spent on all of those road signs saying, and I'm paraphrasing, "This Project Brought to You by The Obama Stimulus Program" could have been put to a better use, huh Barry?
Keynesian economics – a failure yet again.
People, please let's not blame each other! As president Obama articulately explained, it is all ATMs' fault!
"Republicans are to blame. Recovery was steady until the Republicans got elected in 2010."
Did you READ the story? We were losing jobs every month until October 2010 when it became apparent that the democrats were going to take a "shellacking". There has been job growth every month since then. Nice try at revisionist history, though.
As long we see economy uncertainty there is no job creation
Republicans, where are the jobs! Obama cut taxes several times and extended the Bush tax cuts. Rates are the lowest in 50 years! Where are the jobs that were to be created from those cuts? Tax cuts don't create jobs!
Well for every government spending cuts, some losing a job. My 55 year old sister just got laid off from these cuts. What part of it is not the time to have government cutting spending if they do not want unemployment to continue to raise. The is why the Republicans are so bent on cutting spending because they know it is going to keep the economy bad. Republicans only goal is to keep this economy bad for POLICALLY GAIN. Wake up American votes and stop voting for the Republicans. They are all dancing like it is 1959 with this type of NEWS!
In other words the republicans lied when their focus in campaigns in 2010 was jobs. And democrats lied when they said they would not touch social security, medicare and medicaid. So why did we elect you?
I am wondering if the number includes those hundreds who were hired by NYTimes and Washington Post to unsuccessfully dig dirt through the 24000 Palin's emails!
begin to switch to natural gas ... we have to create more jobs ... this is the best thing going..
In the public the Republicans will condemn this jobs report saying it's Obama's fault and where are the jobs. I bet in private though they are hig fiving each other because they know full well their path to the White House in 2012 is a bad economy and high unemployment. Thus since the 2010 elections they have done little to nothing to help spur economic growth.
The ONLY thing that will turn this economy around is the removal of Obama from the Whitehouse and a Republican controlled Senate and House. As long as Harry Reid and Obama refuse to cut spending and threaten more taxes, BUSINESSES WILL NOT HIRE. Add to this the looming Obamacare disaster and you will see nothing but bad news on the unemployement front. BTW... How that "Hope and Change" workin' out for all the unemployed?