Daily Archives: August 5, 2011
It was originally expected that the number of new jobs would b3 85,000… less than the 100,000 minimum necessary to start correcting the unemployment burden. In reality, the new estimate is that the number is 117,000 which brings the unemployment rate from 9.2% to 9.1%.
How much better the situation gets in the next six months is unknown. A stand-off between Democrats and Republicans over raising the country’s debt ceiling poisoned the atmosphere for employers and consumers. Whether this new report helps them to bounce back is questionable.
Commenting from the White House, Council of Economic Advisers Chairman Austan Goolsbee said:
“While the better than expected report is welcome news, the unemployment rate remains unacceptably high and faster growth is needed to replace the jobs lost in the downturn.”
- Unemployment rate dips, economy adds 117K jobs (boston.com)
- Jobs Report Better Than Expected: Hiring Picked Up in July (themoderatevoice.com)
- An Extremely Giddy Austan Goolsbee Tells Jon Stewart: I Feel Bad Obama Has To Be Around The Folks In Washington (thenewspundit.com)
- Employers add 117,000 jobs in July, unemployment rate drops (usatoday.com)
- Relief: July report shows jobless rate slips (chron.com)
- Jobs Report Better Than Expected (coydavidson.wordpress.com)