Awful: June jobs report: 80,000 jobs added, 8.2% unemployment.
You know, here’s a strange thought. If the Supreme Court had actually struck down Obamacare, it would have put certainty back into the markets and businesses would have felt good hiring again. However, since uncertainty will remain, Obamacare’s fate still unresolved until the voters give their verdict when the results of Election Day in November come through, look for businesses to hold back from hiring right through November. Don’t be surprised to see monthly numbers like this to be the norm until then.
Yikes! Ed Morrissey rightly points out that with the new wave of illegal immigrant workers in the market now with Obama’s amnesty by fiat declaration, this is going to make unemployment even more stubborn.
One last thing in the AP’s article regarding the June jobs report:
About one-third of the jobs gained in June were in temporary services.
I’m getting this visual of a vehicle sputtering along down the road with an occasional engine seize up. That about explains our country’s economic performance right now.