It's hard to sugar coat the latest jobs numbers. From the Bureau of Labor Statistics:
THE EMPLOYMENT SITUATION -- JUNE 2011That's right. Only 18,000 new jobs, far fewer than expected, and unemployment did change a little -- it went up. The NYT reported that analysts had predicted 105,000 new jobs in an article headlined: "Job Growth Falters Badly, Clouding Hope for Recovery."
Nonfarm payroll employment was essentially unchanged in June (+18,000), and the unemployment rate was little changed at 9.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment in most major private-sector industries changed little over the month. Government employment continued to trend down.
No doubt, GOPers, who created the economic recession and have done nothing to fix it, will be gleeful (at least among themselves.)
This weekend, Obama and Hill leaders are going to figure out how to cut more spending and Social Security and Medicare are on the table. They should be trying to fix the immediate economic crisis and create jobs. But, that's not even on the agenda.
And, as usual, Atrios sums it up:
So, uh, not good news.