U.S. economy lost 125,000 in June

Weak jobs figures in U.S. prompt fears of second recession


 

For the first time this year, the U.S. saw its employment pool shrink by 125,000 jobs in June, prompting some to worry about the overall state of the economy. The Labor Department attributed much of the decline in jobs to the loss of 225,000 Census jobs that were added in May, but there are still fears the country could fall back into a recession. “It is a Catch-22 situation,” said Sung Won Sohn, economics professor at Cal State University-Channel Islands. “Businesses are reluctant to hire for fear of a double-dip recession. But without jobs, the economy can’t grow.” Though the unemployment rate fell to 9.5 per cent from 9.7 per cent in May, much of that was due to discouraged job seekers abandoning the job hunt altogether.

CNN


 
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U.S. economy lost 125,000 in June

  1. Another victory for Obama – that's another 125,000 Americans who will be dependent on government, they'll do what he wants.

    • And you claim another victory for ignorance and ungratefulness. And those two have won much more than Obama ever will.

    • Uhm… you do realize that the reason being widely cited for this shrink in employment is that the US gov't let go some 225,000 census workers? So it's actually 100,000 less people who are dependent on gov't.

      But you just go on being completely wrong there as usual. I expect you're used to it by now.

  2. It should be obvious to anyone on either side of the border that the recession never ended and the only people being hired are statisticians working for government who burn the midnight oil fudging and manipulating figures. Every recession now is really all about the powers that be getting richer and richer by throwing more and more of the middle class overboard and shipping their jobs off to third world hell holes to be done by child slave labour. Once the EI runs out these people no longer exist and presto, recession over and everything's great. A few more billionaires have been created and the underclass, unseen, swells. Have a nice fricken day.