Friday, August 6, 2010

U.S. Economy Continues to Falter

The Federal Government reported this morning that U.S. employment fell for a second straight month in July as more temporary census jobs ended while private hiring rose less than expected, pointing to an anemic economic recovery.

The unemployment rate was unchanged at 9.5 percent in July for a second straight month, just below market expectations for a rise to 9.6 percent. The steady jobless rate largely reflected a drop in the labor force as discouraged workers gave up the search for jobs.  Glad to see that the Stimulus really worked.  Once the Census jobs are gone, the numbers will look even worse.

In addition to this great economic news, the WH announced late yesterday that another Obama economic "expert" is leaving.  Christina Romer, one of Obama's most vocal supporters of the Stimulus, will be heading back to California where she will teach economics at Berkley.  I'm sure she'll be welcomed with open arms at the epicenter of the Left.

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