So stifle the economy and scare employers into not hiring that people simply give up looking for jobs, and therefore are not counted in the unemployment rate.
That is what the jobs numbers just released show (emphasis mine):
Employers cut 125,000 jobs last month, the most since last October, the Labor Department said Friday. The loss was driven by the end of 225,000 temporary census jobs. Businesses added a net total of 83,000 workers, an improvement from May. But that’s also below March and April totals.
The nation has 7.9 million fewer private payroll jobs than it did when the recession began.
Analysts expected private payrolls to rise by about 110,000, according to Thomson Reuters. The report indicates that businesses are still reluctant to hire as the economy slowly recovers form the worst recession since the 1930s.
The unemployment rate fell as 652,000 people gave up on their job searches and left the labor force. People who are no longer looking for work aren’t counted as unemployed.
Is this another “breakthrough month“? Still talking about “Barack Obama Deficit-Slayer”?
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