Friday, July 02, 2004

The Wecovery: Jobs tanking again 

A "surprise" to everyone but us:

The Labor Department said the economy created 112,000 jobs in June, less than half the number economists expected. After three months of strong job growth, the latest report was a letdown to many investors, though those worried about inflation may have found some consolation in the data, as less jobs means weaker demand for goods and less pricing pressure.

The nation's unemployment rate remained steady at 5.6 percent, the Labor Department said, though the number of new jobs in the manufacturing sector, a key barometer of economic growth, dropped by 11,000. Average hourly wages climbed by a less-than-expected 0.1 percent.
(via AP)

When will these clowns own up, and admit that high unenployment and stagnant wages are not accidental or mysterious, but the result of Bush policies? (see back "A touch of the overseer's lash") Remember also that we need 140,000 new jobs to stay even with population growth, so our net under Bush just gets worse and worse.

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