Another poor jobs report
By: dgun
July 6th, 2012
8:41 am
The 80,000 jobs added in June is well below the average job growth from earlier in the year and not enough to lower the unemployment rate. In the first quarter the US averaged 226,000 new jobs per month in contrast to the second quarter rate of 75,000 new jobs.
Professional and business services saw an increase in jobs, whereas most other non-farm payroll remained unchanged.
Average hourly earning were up slightly to 6 cents per hour. With the price of gas down, some were predicting an increase in consumer confidence, which hasn't happened.
The next jobs report will likely weigh heavily on the Presidential race. Expect it when the clock strikes midnight, August 3, 2012. Or rather, at 8:30 a.m. Eastern.
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35 comments on "Another poor jobs report"
July 6, 2012 at 9:33 am
Corodon pointed out in B&E that growth in federal disability rolls are out pacing job growth. That will be in superPAC ads this fall. The fine print from the EU "Bail Out" summit is leaking all over the place and that news is not good.
So far as I can tell there is nothing semi-sensible or better that the president or Fed can do that they are not doing. It looks like it ain't going to be good enough. Romney is not very inspiring but he will probably win given probable unemployment levels at election time.
July 6, 2012 at 10:09 am
I will vote competence, and the most free market candidate over personality. Obama is neither competent or free market.
July 6, 2012 at 11:58 am
It's been 4 years, so Obama now owns the economy. What I am left to think about.....was the trade off better for the country?
Extending the Bush tax cuts, which we already know got us in this mess, in exchange for unemployment extension and the end of DADT?
July 6, 2012 at 12:23 pm
So far as I can tell there is nothing semi-sensible or better that the president or Fed can do that they are not doing.
July 6, 2012 at 1:11 pm
It's been 4 years, so Obama now owns the economy. What I am left to think about.....was the trade off better for the country?
Extending the Bush tax cuts, which we already know got us in this mess, in exchange for unemployment extension and the end of DADT?
With state defaults likely to go through the roof the political spectrum will shift away from the clueless industrial age dinosaurs now in power.
July 6, 2012 at 1:49 pm
Well..what a happy day for the republicans. If they play their cards right and continue on as they have been, the country might slide back to full blown depression, then the republican can parrrtay!
July 6, 2012 at 5:48 pm
It's been 4 years, so Obama now owns the economy. What I am left to think about.....was the trade off better for the country?
I know for sure what would be a disaster for this country and that is to give the GOP the Congress and the Presidency.
No, the pendulum needs to swing a little bit more in the direction of the Democrats, at least for a while.
July 6, 2012 at 8:06 pm
I think so. Things were bad when Obama came to office. They're better now but not as good as they could be. Obama has a few things he can hang his hat on.
I know for sure what would be a disaster for this country and that is to give the GOP the Congress and the Presidency.
No, the pendulum needs to swing a little bit more in the direction of the Democrats, at least for a while.
July 6, 2012 at 10:34 pm
^ They ran out of steam in similar fashion to the Tea Party. The primary difference IMO is that since the Tea Party is motivated primarily by hatred of Obama, they will have a little bit of a revival for a few months. So, get ready to hear a lot more about Muslims and immigrants.
Obama dropped the ball on the Wall Street reform momentum that was waiting on him when he entered the White House. He could have got a lot more juice out of it than he did.
One thing about Republicans and the Tea Party is they hated Obama too much too soon and a god bit of energy and resources were spent early in his term. Like I said I look for a Tea Party revival, but I'm not too worried about it. Let's remember who Obama's opponent is, lol.
July 7, 2012 at 12:50 pm
I think so. Things were bad when Obama came to office. They're better now but not as good as they could be. Obama has a few things he can hang his hat on.
One thing about Republicans and the Tea Party is they hated Obama too much too soon and a god bit of energy and resources were spent early in his term. Like I said I look for a Tea Party revival, but I'm not too worried about it. Let's remember who Obama's opponent is, lol.