Sunday, July 10, 2011

Yup, that's a helluva recovery there, Obama.

WASHINGTON (AP) — The job market is defying history.
A dismal June employment report shows that employers are adding nowhere near as many jobs as they normally do this long after a recession has ended.
Unemployment has climbed for three straight months and is now at 9.2 percent. There's no precedent, in data going back to 1948, for such a high rate two years into what economists say is a recovery.
The economy added just 18,000 jobs in June. That's a fraction of the 90,000 jobs economists had expected and a sliver of the 300,000 jobs needed each month to shrink unemployment significantly.

1 comment:

drjim said...

Yep, and the housing market has completely cratered.
Real wages have not increased in the last decade, and the only reason the housing market got so overheated were the shady loans you could get.
I'm just glad I've been able to put some money aside in silver coins!