U.S. job growth barely picked up in June, the latest sign that economic growth has slowed.
Nonfarm payrolls grew by 80,000 last month, the Labor Department said Friday. The politically important unemployment rate, obtained by a separate survey of U.S. households, was unchanged at 8.2%.
Economists surveyed by Dow Jones Newswires had forecast a gain of 100,000 in payrolls and the steady June jobless rate.
Important update: EconomicPicdata notes–“When looking at the household survey, we see that the headline measure of unemployment doesn’t account for the fact that teen employment (likely low pay part-time workers on summer break) accounted for more than 100% of all new jobs. Excluding teens (the second bracket from the left in the chart below), we can see that negative employment number. In addition, individuals over 20 continue to flee the workforce (more than 150,000 more 20+ year olds were classified as “not in the labor force”).” Read it all.
[i]The U.S. economy posted its third consecutive month of weak job growth in June, sharpening fears that troubles overseas are threatening the recovery at home[/i]
No, [i]confirming[/i] fears that the Socialist in the White House and his administration’s policies of top-down control and the continuing overhang of Obamacare with its ~20 new taxes embeded are going to make business life tougher still; so no sane business owner hires for future growth, if they hire at all it is to maintain current viability.
The Obama EPA is killng jobs left and right; they are intent on shutting down the whole coal industry, they are attacking fracking, the clean water regulations are killing construction. The NLRB is stacked with pro-union appointees to expand union power irregardless of the harm done to industry or the economy.
The Dept of Energy continues to shovel money out to failing “green energy” firms; duds on the solar panel front, duds on the wind energy front, and now a Nevada geothermal firm is failing.
And DOTUS is still out campaigning for his “tax the wealthy” line which if enacted will reduce the desire of these job creaters to risk their money to create more jobs.
Pointing the finger overseas is exactly what Obama wants; to take the spotlight off of him.
Capt–His minions are also blaming (drumroll please)……..Bush.
Yeah, because the Wall Street Journal is soooooo pro-Obama.
David, in fact if he keeps getting re-elected they’ll probably be blaming Bush in his 3rd,4th, and 5th terms……
If the comments could please focus on the labor market and the report thereon–thanks.