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U.S. Economy Adds Only 80,000 Jobs In June

I've been sitting here for the last hour simulating an employed business journalist, just waiting for 8:30 a.m. Eastern SHARP. That's right, people: it's jobs report day, and, well, let's talk about Jessica Simpson instead.

The U.S. economy added 80,000 jobs in June, dropping the U.S. unemployment rate to...oh wait, it's still the same. 8.2%. Um, yay? These numbers deserve a San Diego-style fireworks show.

Yes, non-farm payroll increased by some 80,000 jobs but an estimated 12.7 million Americans are still jobless and another 8.2 million Americans are working part-time when they really want full-time work, according to this morning's BLS report.

In fact, June's numbers are just like May's numbers, which means our economy is sort of like Jessica Simpson trying to lose all the baby weight. It's coming off, but veeeery slowly, and we know in hindsight that we probably should have paced our overall consumption patterns a little bit better, but that was then and now we're stuck trying to figure out how to get back to where we were. Just how long is it going to take our economy to get back to a size 4, damn it!? That's the question, because last summer was going great until the August 2011 report told us employers added a mere 52,000 jobs. Too bad we can't build a Weight Watchers campaign around job creation, right?

Yesterday's ADP survey gave us a ray of hope, too. Sigh. Still, gaining jobs is better than losing jobs, and we've come a long way since the nightmarish job losses of 2008-09. So things are looking up, sort of. "TomKat" is kaput, and even Coldplay's Chris Martin is kissing wife Gwyneth Paltrow in public again. Now if only Carly Rae Jepsen's Call Me Maybe would disappear from the radio, we could hit the celebrity trifecta. It's the song of the summer, though. Especially if you're a job seeker.

Comments

  1. Looking forward for more progress :)

    Is the drop in the weekly jobless claims relative to the Feds actions to potentially print money? I think you should watch this video of Ed Butowsky with the Fox Business' Varney & Company.

    ReplyDelete

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