Companies hire at slow pace for 3rd straight month

[ProSense]

Companies hire at slow pace for 3rd straight month

By CHRISTOPHER S. RUGABER

WASHINGTON – Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the economy will grow more slowly the rest of the year. The unemployment rate was unchanged at 9.5 percent.

Private employers added a net total of only 71,000 jobs in July, far below the roughly 200,000 needed each month to reduce the unemployment rate.

The modest gains were even weaker when considering a loss of government jobs at the local, state and federal levels in July that weren't temporary census positions. Factoring those in, the net gains were only 12,000 jobs, according to the Labor Department's July report Friday.

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Manufacturers added 36,000 jobs in July, slightly above its monthly average this year. Those gains were aided by General Motor's decision to keep its plants running last month. Usually it closes them and temporarily lays off employees to retool for the new model year.

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[golddigger]

1. Well that's unexpected.

:sarcasm:

[RBInMaine]

2. BUT, we are GAINING and not LOSING BIGTIME which is what happened under Bush.

[ProSense]

3. Here's a good chart

Via Ezra Klein:

[impik]

4. President Obama needs to do something unilaterally

I don't know what he can do without congress, but they must find *something*.

[mkultra]

5. YES!! he shoudl higher the whole country

:dunce: