And the Dems call this 'Recovery Summer'? :: Political News and commentaries

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September 3, 2010

And the Dems call this 'Recovery Summer'?

Topics: Political News and commentaries

According to the latest report from the Bureau of Labor and Statistics, the unemployment rate went up slightly in August to 9.6%, over the July rate of 9.5%, and overall the economy shed 54,000 jobs, Private sector growth slowed from July, dropping from an adjusted gain of 107,000 to 67,000, while the government terminated 131,000 jobs:

Nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment fell, as 114,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment continued to trend up modestly (+67,000).

Ed Morrissey, who calls this a "death stall, offers more commentary here.

The nutshell view is that we created 40,000 fewer private sector jobs and the unemployment rate went up. If this is what the WH calls "recovery," I'd hate to experience what they call economic decline. Clearly, the Democrats' position going into the midterm elections was already bad enough. With this latest jobs report we're all the more looking at what's likely to be a GOP rout. As Jennifer Rubin reminds us, Obama said we were to grade him on the economy. The voters will do that on Election Day, and he won't be getting a B+.

Meanwhile, the president spins and promises - get ready - more stimulus! This, while even Der Spiegel says America is becoming too European.