Friday, August 06, 2010

Recovery Summer. Well, Not Really

Headline:

“Total nonfarm payroll employment declined by 131,000 in July, and the unemployment rate was unchanged at 9.5 percent..." --BLS

It's possible that Biden was wrong!

HT: Barry

2 comments:

J. Strupp said...

+71,000 is the number that matters. Total NFP's is insignificant until we shed all census workers.

Still, employment growth remains flat. Without further public sector support, these numbers will be flat or worse for years.

Deekaman said...

How about some PRIVATE sector growth. Like government gets out of the way? It is private sector growth that creates jobs and wealth (and government revenue). Not public sector.