Last month, I wrote about the so-called “recovery” that the mainstream media so loves to blather on about. I ticked off a few figures that came out in June: National unemployment was at 8.9 percent, housing was town by 4.2 percent, gas prices were up to near $4, food prices were increasing and consumer confidence fell another 6 percentage points to 60.8 percent (90 percent indicates a healthy economy).
At that time, the President trotted out his familiar talking points saying he inherited the bad economy and that things would soon turn around. Well, today the jobs numbers are out and yet again, there’s no sign of recovery. In fact, things are getting much worse.
The Washington Post reports:
Job growth came to nearly to a halt in June, the federal government said Friday in surprisingly grim new data – an alarming challenge to predictions that the economy would bounce back later this year.
Employers added 18,000 jobs last month, a trivial number in a country with 150 million workers, and the unemployment rate rose to 9.2 percent from 9.1 percent. It was a far worse result than expected–economists had forecast 105,000 new jobs.