Unemployment at 9.2%...Thanks Stimulus!Submitted by MegD4Freedom on Fri, 07/08/2011 - 13:48
The employment numbers for June were released today, and unsurprisingly, they aren't pretty. The unemployment rate rose to 9.2%, the highest it has been since last December, with only 18,000 new net jobs added last month. According to the Bureau of Labor Statistics, this figure shows that nearly 14.1 million active job-seeking Americans can't find work, despite nearly 275,000 Americans choosing to leave the labor force to either go back to school or have just stopped looking.
The main reason behind the weak job numbers comes from the loss of nearly 39,000 government jobs at all levels, as federal, state, and local legislators are (finally) finding ways to shrink their budgets amidst record deficits. Private sector jobs actually grew by 57,000, which might be the only bright spot from an otherwise dismal month of June.