Jobs report shows meager payroll growth | News
News
INDY Week's news blog

Archives | RSS

Friday, July 8, 2011

Jobs report shows meager payroll growth

Posted by on Fri, Jul 8, 2011 at 8:53 AM

The June jobs numbers are out and they are not good, even though economists expected a big bounce back from May's dismal report.
Non-farm payroll rose 18K. Nationwide, the unemployment rate is now 9.2%
Via Marketwatch:

WASHINGTON (MarketWatch) — The U.S. economy added jobs at a slower pace in June than in May, suggesting that the sudden slowdown in the economy might be longer-lasting and more severe than feared.

This is really disturbing since both federal and state leadership seems to have forgotten what counter-cyclical spending is all about. Instead, we're cutting thousands of state workers, who use their paychecks to, you know, purchase goods and services. At 9.7 percent, North Carolina's May unemployment rate was higher than the national rate. We'll see when the state numbers come out if that's still the case. There was a significant drop in the state's initial unemployment claims, but not a lot of other data to suggest even a slight turnaround.

Joe Stiglitz from this morning:

The remedies to the US deficit follow immediately from this diagnosis: put America back to work by stimulating the economy; end the mindless wars; rein in military and drug costs; and raise taxes, at least on the very rich. But the right will have none of this, and instead is pushing for even more tax cuts for corporations and the wealthy, together with expenditure cuts in investments and social protection that put the future of the US economy in peril and that shred what remains of the social contract. Meanwhile, the US financial sector has been lobbying hard to free itself of regulations, so that it can return to its previous, disastrously carefree, ways.

Pin It

Comments

Subscribe to this thread:

Add a comment

INDY Week publishes all kinds of comments, but we don't publish everything.

  • Comments that are not contributing to the conversation will be removed.
  • Comments that include ad hominem attacks will also be removed.
  • Please do not copy and paste the full text of a press release.

Permitted HTML:
  • To create paragraphs in your comment, type <p> at the start of a paragraph and </p> at the end of each paragraph.
  • To create bold text, type <b>bolded text</b> (please note the closing tag, </b>).
  • To create italicized text, type <i>italicized text</i> (please note the closing tag, </i>).
  • Proper web addresses will automatically become links.

Latest in News



Twitter Activity

Comments

To give credit where it is due, at least they are stedfast in their racism, xenophobia, sexism and repressed sexuality.

by Haggie on Real Talk: $3.76 Billion Isn’t Going to Stop N.C. Republicans from Being Transphobic Bigots (News)

As an exercise in futility, I write to Thom about once a month. His answers are always very long and …

by margaretS on Thom Tillis, Textbook Definition of a Schmuck, Says Goldman Sachs Is a Champion of the "Little Guys" (News)

Most Read

Most Recent Comments

To give credit where it is due, at least they are stedfast in their racism, xenophobia, sexism and repressed sexuality.

by Haggie on Real Talk: $3.76 Billion Isn’t Going to Stop N.C. Republicans from Being Transphobic Bigots (News)

As an exercise in futility, I write to Thom about once a month. His answers are always very long and …

by margaretS on Thom Tillis, Textbook Definition of a Schmuck, Says Goldman Sachs Is a Champion of the "Little Guys" (News)

A response to the open letter: http://www.counterpunch.org/2017/03/24/an-open-letter-to-duke-universitys-class-of-2007-about-your-open-letter-to-stephen-miller/

by fanonscholar on In an Open Letter, 2,943 Fellow Duke Alumni Ask Trump Senior Adviser Stephen Miller How He Became Such a Horrible Person (News)

A rebuttal to the political apathy in this open letter: http://www.counterpunch.org/2017/03/24/an-open-letter-to-duke-universitys-class-of-2007-about-your-open-letter-to-stephen-miller/

by fanonscholar on In an Open Letter, 2,943 Fellow Duke Alumni Ask Trump Senior Adviser Stephen Miller How He Became Such a Horrible Person (News)

More bottom feeders attacking Murray without even having the faintest idea of anything he is actually written or believes. Hey, …

by jfarmer on Charles Murray's Duke Appearance Avoids the Blacks-Are-Inferior Thing, Talks About “Cognitive Elites” and the White Working Class (News)

© 2017 Indy Week • 201 W. Main St., Suite 101, Durham, NC 27701 • phone 919-286-1972 • fax 919-286-4274
RSS Feeds | Powered by Foundation