Friday, August 6, 2010

Economy Sheds 131k Jobs

Some more bad news for the economy as 131,000 jobs left the economy last month. While overall private employment did increase over 70,000, 200,000 public jobs (mainly census) disappeared. This is more evidence that the economy is slowing down and that the effects of the stimulus were far fewer than advertised and far more temporary.

Plus we lost almost 100,000 more jobs than previously believed in June, leaving us down over 200,000 that month.


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Michael said...

Wait, I thought when things went bad it was Bush's fault. Isn't he still President?

Reaganite Republican said...

Not only did the stimulus not work after hundreds of billions, but now if the economy ever does pick itself up off the floor inflation will almost certainly explode... with Obama and Helicopter Ben going hog wild there is just way too much money pumped into a dead economy- there'll be negatives later, just watch