"On Thursday, the Labor Department reported that the nation’s jobless rate shot up to 6.4 percent in June. The last time the rate was higher was in April 1994. The government also said that businesses cut 30,000 jobs last month, with many of those cuts concentrated on factory workers. The economy generally needs to add about 150,000 jobs to exceed to (the) natural growth of the work force, so the unemployment rate is expected to fall only gradually over the next year as businesses add jobs cautiously in the early phases of an expansion. Although the recession of 2001 has been over for more than a year, according to most economists, the economy has continued to shed jobs."
This quote is from MSNBC.COM. How can the unemployment rate fall when layoffs are continuing and the number of jobs is not growing at the rate of 150,000 jobs a year? The above statement is total nonsense. This report is trying to put a good spin with a statement that is totaly out of perspective.
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