The June jobs report is out and it's not good. But is it all doom and gloom?
Daniel Gross the Economics Editor for Yahoo! Finance and Jim Bianco, President, Bianco Research come OutFront.
June jobs report: Hiring weak, unemployment unchanged
Hiring was lukewarm last month, with employers adding jobs but not enough to bring the unemployment rate down.
The economy added 80,000 jobs in June, the Labor Department reported Friday, barely an improvement from the 77,000 jobs added in May. Theunemployment rate remained at 8.2%.
Economists surveyed by CNNMoney had expected to see employers add 95,000 jobs and the unemployment rate to remain unchanged.
The labor market has been volatile this year, with job growth starting off strong in the first couple months of 2012. Then a disappointing slowdown in the spring led many to wonder whether the recovery was taking a turn for the worse.
Spring employment seems in past always to be reflection of construction and outside work... Well we know that it should be weak with the other data we see... So I do not understand the not understanding this and how most insist it is a failure... only question I have is ... is this years June better than last years June and the year before ??? you cannot judge on pure monthly data when we know a lot of things are seasonal and weight that in.... as always they speak what they want to happen not what happens... by giving too little they frame the data in the manner they want it to look like? ... thanks for trying to give the positive instead of just the negative that many want to see... I am bothered by people who speak on TV that almost seem happy that the results look on surface poor... it shows their politics and their true feelings about others....
Yes, it is half full because the way we started in 2009 we were losing 500,000 jobs per month. During Bush we lost 43,000 industries that took 5,000,000 jobs overseas. Sure, there were military jobs that during the Bush administration those people were counted as employed. But look at their wages and salaries. Those came out of our coffers which make the debt greater.
So now the troops are coming back and those will be counted as unemployed until they find jobs. The president has a couple of proposals out in the policy making. All it takes is a cooperative congress to pass them and the president will sign them right away. They should get busy working on those. But we tend to forget the GOP congress have established their objective to make sure Obama fails.
It takes love for country and its people to do what is right for all. The GOP congress does not show to have that. I wonder what will they do if they win. After showing no love for the country I don't trust them with the fate of the nation.
And If the Ryan Plan is implemented I will be worried about the working poor and the middle class because more will be asked of them. The Ryan Plan delineates a blueprint for the future of the children of the top 15% by making those in the bottom 85% pay for it.
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Erin Burnett OutFront airs weeknights at 7 p.m. ET. Designed to showcase Erin's unique style--casual, smart, and confident--OutFront stays ahead of the headlines, delivering a show that's in-depth and informative.
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