The Payroll figure is an indicator of Economic expansion.(Business adding NEW positions.)
OIL OIL OIL OIL OIL!!!
This has replaced Iraq as the biggest drag. You can't pay $2 a gallon for gas and not have a big impact. $44 a barrel? This has been the case for over a year. And, with capacity at the max, there is no let up in sight.
No wonder no one is hiring!
I think this is a minor setback. Next month with kids going back to school and college, things are bound to pick up. A lot of those kids will be quitting jobs and buying school supplies, so that should help.
As Margaret Thatcher said, "Don't go wobbly on me now!"