by Ryan on July 2, 2009

in Economy,Politics

Or to put in another way:  Nine point five percent!   Bad humor, but in all seriousness at the end of the day there’s no good way view this.  That’s the highest unemployment rate we’ve seen since August 1983, as the US economy shaved another 467,000 jobs in the month of June. 

Unemployment is considered a lagging indicator when it comes to the economy:  the unemployment rate could be rising as the fundamentals of the economy are being repaired.  Plus, jobs always come back once the economy has already repaired the damage and companies are in a position to expand.  That makes sense.

However, even though initial signs last month were good (a slower rate of job loss, but job loss nonetheless) this increased rate has many saying that evidence of a recovery is not as near the horizon as most thought.  Some even think the worst is yet to come, and most of our future problems result from a stubborn government ignoring common sense.  The Administration is still ostensibly blaming Bush and being optimistic on (ready for thisrenewable energy jobs and college kid’s summer jobs

Seriously, did Secretary Solis today just find hope in green jobs and summer youth programs as a solution to our general employment woes?  We’re in trouble if government is the only ones hiring people, especially since they have their sights on health care — the only other sector to do well last month. 

The only direction the President’s plans have taken us is down.

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