Trinnity
08-03-2012, 08:26 AM
Economy Creates 163,000 New Jobs but Rate Rises to 8.3%
(http://www.cnbc.com/id/48480887)The U.S. economy closed out an otherwise weak second quarter by creating more jobs than expected, with 163,000 new positions added, but the unemployment rate rose to 8.3 percent.
As the country struggles to gain growth traction, the unemployment rate (http://www.cnbc.com/id/44491326/) held above 8 percent for the 41st consecutive month, according to the latest report from the Bureau of Labor Statistics (http://www.bls.gov/news.release/empsit.nr0.htm).
"While the monthly gain is still relatively small by historical standards, it might help spark somewhat higher consumer optimism and spending," Kathy Bostjancic, director of macroeconomic analysis at The Conference Board, said in response to the report.
Despite the seemingly good news, the report's household showed that the actual amount of Americans working dropped by 195,000, with the net job gain resulting primarily from seasonal adjustments in the establishment survey. The birth-death model, which approximates net job growth from newly added or closed businesses, added 52,000 to the total.
It this point, the economy would have to be adding an absolute minimum of 250,000 each and every month to make a dent in the right direction. I think the American people are going to help Mr. Obama keep his promise of fix it the first term or OUT.
All the govt needed to do was stay out of the way, but instead he increased bureaucracy and regulations. ADA was his crowning glory? Ultimately it was a crown of thorns and his undoing.
Priorities, sir.
He knew what the deal was, "it's the economy, stupid".
(http://www.cnbc.com/id/48480887)The U.S. economy closed out an otherwise weak second quarter by creating more jobs than expected, with 163,000 new positions added, but the unemployment rate rose to 8.3 percent.
As the country struggles to gain growth traction, the unemployment rate (http://www.cnbc.com/id/44491326/) held above 8 percent for the 41st consecutive month, according to the latest report from the Bureau of Labor Statistics (http://www.bls.gov/news.release/empsit.nr0.htm).
"While the monthly gain is still relatively small by historical standards, it might help spark somewhat higher consumer optimism and spending," Kathy Bostjancic, director of macroeconomic analysis at The Conference Board, said in response to the report.
Despite the seemingly good news, the report's household showed that the actual amount of Americans working dropped by 195,000, with the net job gain resulting primarily from seasonal adjustments in the establishment survey. The birth-death model, which approximates net job growth from newly added or closed businesses, added 52,000 to the total.
It this point, the economy would have to be adding an absolute minimum of 250,000 each and every month to make a dent in the right direction. I think the American people are going to help Mr. Obama keep his promise of fix it the first term or OUT.
All the govt needed to do was stay out of the way, but instead he increased bureaucracy and regulations. ADA was his crowning glory? Ultimately it was a crown of thorns and his undoing.
Priorities, sir.
He knew what the deal was, "it's the economy, stupid".