The U.S. Bureau of Labor Statistics released the June employment report and it remains bleak:
Nonfarm payroll employment was essentially unchanged in June (+18,000), and the unemployment rate was little changed at 9.2 percent….Employment in most major private-sector industries changed little over the month. Government employment continued to trend down.
Perhaps if there is any silver-lining is that government actually is getting smaller!
But you can sense the frustration growing from Majority Leader Eric Cantor whose House Republicans have been trying to pass job creating legislation and boost economic growth, only be stymied by the Obama administration and Democrats in Congress:
“Over the last two years, Democrats have hindered real economic growth by trying to spend and regulate their way to growth, but all that has resulted in is unemployment over 8.5 percent for 28 consecutive months, and a national debt over $14 trillion. Yet even as he is requesting a debt limit increase, President Obama nor his party have offered a concrete plan to manage down the debt, grow the economy or create jobs. And in an affront to basic economic sensibilities, they continue to insist on raising taxes on working families and small businesses who we are counting on to create jobs. Let me be clear, Republicans will not agree to tax increases. Period.”
No one wants a piss-poor economy. It’s a common pain shared by all. It’s time to stop playing politics and get real about what we need to do to end uncertainty, allow businesses to invest in their companies, and get America working again.
