BREAKING: Only 80,000 Jobs in June

This is third month in a row of lower than expected job growth–bad news for encumbents.

UPDATE—It’s now Recovery Summer 3.0.

UPDATE 2—Well, here’s one organization that’s hiring. But I’m not sure this is good news.

UPDATE 3—Here’s a chart from the Minneapolis Federal Reserve Bank that plots employment recovery for the U. S. recessions since WWII. Given the current trend line, one would expect that employment will return to 2007 levels in late 2014. That’s a 7-year delay.

Is it November yet?


UPDATE 5—More people went on SSDI than got jobs last month.


Well sure, Mr. President! Where can I get a job?!

[I]f I don’t have this done in three years, then there’s going to be a one-term proposition.

—Barack Obama

Is it November yet?

UPDATE—WaPo reports:

If the same percentage of adults were in the workforce today as when Barack Obama took office, the unemployment rate would be 11.1 percent. If the percentage was where it was when George W. Bush took office, the unemployment rate would be 13.1 percent.

UPDATE 2—Mitt Romney asks the President, “I have a simple question for you: Where are the jobs?”


Reuters reports that the 90 gigabucks spent on stimulating green companies has not come close to producing millions of high-tech jobs. (H/T, Hot Air) Fewer than 300,000 have been created at a cost of almost 110 kilobucks per job per year.

That kind of money could have financed the training of a generation of engineers and scientists who could have participated in developing new technologies that actually work in much the same way as their grandparents who trained via the GI bill produced the Apollo program, microprocessors, etc.