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07-03-2008, 01:33 PM #1
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U.S. economy lost 62,000 jobs in June
U.S. economy lost 62,000 jobs in June
Sixth straight month of losses; jobless rate still 5.5 percent
updated 2 hours, 22 minutes ago
WASHINGTON - Employers cut payrolls by 62,000 in June, the sixth straight month of nationwide job losses, underscoring the economy’s fragile state. The unemployment rate held steady at 5.5 percent.
The latest snapshot of business conditions, released by the Labor Department on Thursday, showed continued caution on the part of employers who are chafing under high energy prices and are uncertain about how long the economy will be stuck in a sluggish mode, reflecting fallout from housing, credit and financial troubles.
Heavy job losses in construction, manufacturing and financial services, along with cutbacks in retailing, eclipsed job gains in education and health services, leisure and hospitality, and government.
The report, however weak, was largely on target with economists’ forecasts. They had been expecting employers to reduce payrolls by around 60,000 jobs in June and for the unemployment rate to slip a notch to 5.4 percent.
The jobless rate spiked to 5.5 percent in May. That marked the biggest over-the-month increase in two decades and left the rate at its highest since October 2004.
Job losses in both April and May turned out to be considerably deeper than had been thought. Payrolls dropped by 67,000 in April, versus the 28,000 previously reported. And, losses in May came to 62,000, rather than the 49,000 initially estimated.
So far this year, the economy has lost a total of 438,00 jobs, an average of 73,000 a month.
The economy is the top concern of voters and will figure prominently in their choice for president and other elected officials come November. The faltering labor market is a source of anxiety not only for those looking for work but also for those worried about keeping their jobs during uncertain times. It also could spell more trouble for an already shaky economy if people and businesses were to hunker down further.
When it comes to handling the economy, 32 percent picked Democratic contender Barack Obama, while 28 percent went with GOP rival John McCain, according to a recent AP-Yahoo News poll.
Private analysts predict the economy will continue to shed jobs in the months ahead, pushing the unemployment rate higher.
“The economy is at risk of a hard landing,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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07-03-2008, 01:43 PM #2So far this year, the economy has lost a total of 438,00 jobs, an average of 73,000 a month.
The economy is the top concern of voters and will figure prominently in their choice for president and other elected officials come November. The faltering labor market is a source of anxiety not only for those looking for work but also for those worried about keeping their jobs during uncertain times. It also could spell more trouble for an already shaky economy if people and businesses were to hunker down further.
If voters are worried about losing or keeping their jobs, WHY in the hell do they think illegal immigration is not a factor in this? More American voters need to demand we enforce our current laws on illegal aliens NOW!
The economy and illegal immigration is one and the same!
73,000 Americans lost their jobs. Those 73,000 unemployed Americans are directly competing with illegal aliens for new jobs. Guess who's be getting the jobs?!?! The ILLEGAL aliens, because they will work for less while collecting welfare for the multiple anchor babies, don't pay for medical insurance, auto insurance, taxes, and will share homes!
So tell me again why illegal immigration is NOT the top issue?
Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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07-03-2008, 02:13 PM #3I find it extremely hard to believe that voters cannot see the correlation between the economy (loss of jobs) to illegal immigration!
Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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07-03-2008, 02:47 PM #4
See how Great a President Dubya is . NP , High UnEmployment rate = Move jobs off-Shore. % goes down , good work Dubya . End of Problem for our Retarded Government
Nam vet 1967/1970 Skull & Bones can KMA .Bless our Brothers that gave their all ..It also gives me the right to Vote for Chuck Baldwin 2008 POTUS . NOW or never*
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72 Hours Till Deadline: Durbin moves on Amnesty
04-28-2024, 02:18 PM in illegal immigration Announcements