Posted on 07/02/2009 9:34:06 AM PDT by pissant
WASHINGTON (Reuters) - U.S. employers cut far more jobs than expected last month and the unemployment rate hit a nearly 26-year high of 9.5 percent, underscoring the likelihood of a long and slow recovery from recession.
The loss of 467,000 jobs reported by the Labor Department on Thursday was 100,000 more than Wall Street economists had expected and was spread widely across economic sectors.
The economy has lost 6.5 million nonfarm jobs since the recession began in December 2007 and the unemployment rate has nearly doubled in that time.
"It looks like the economy was still losing substantial momentum as the second quarter came to a close. This report is weak across the board," said William Sullivan, chief economist at the JVB Financial Group in Boca Raton, Florida.
(Excerpt) Read more at finance.yahoo.com ...
O and the Dems, in power since the ‘06 election cycle..
and this is what we get?
somebody is asleep in the voting booth
Throw in a Playboy interview and a hostage crisis and we’re there!
>> somebody is asleep in the voting booth
A lot of somebodies. Either that, or half of America has gotten the message that as long as the other half of us work and we have a socialist government, they can sit on the sofa and watch Oprah until the government check arrives.
Obama’s handling of Iran and Honduras shows even less skill than old Jimmuh
More stimulus spending is needed, now.
“Obama is Arabic for Carter” - bumper sticker seen in Landrum, SC.
I need that bumpersticker!!!!
>> Obama’s handling of Iran and Honduras shows even less skill than old Jimmuh
Yeah, who’dve thunk it would be possible to have things suck so hard that one could actually respect Carter’s skillz, relatively speaking?
And (gasp) Clinton seems conservative by comparison. I feel like Alec in Wonderland. It’s just too strange.
Wonder how 0bama looks in a cardigan sweater?
Barry economic math = BS.
Not bad, but the wide belt with spikes that he wears on the outside doesn't match.
Oh wait - that's his WIFE!
0 should just make it illegal to fire or layoff employees. That would fix everything.
She’s a fashion nightmare.
Hussein will be blaming President Bush.I am wondering if Hussein will join the unemployable soon. Would love to hear Hussein has been sacked.
I heard on the radio this morning that if you add the people who have been unemployed and have quit looking for work, the unemployment rate is over 16 percent.
It is a STEP UP, not a SPIKE. It will have to go back down before they can call it a SPIKE.
With that hag, I give O a year, tops, before we hear about a little Clintonesque intern action.
You’re not going to have economic recovery under these fools.
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