Friday, July 08, 2011
During the recovery following past recessions, there were many people hired by small businesses. This resulted in a declining unemployment rate and rapid increase in GDP. But during the 'recovery' following the 0bama recession, the unemployment rate has remained stubbornly high, due to little or no hiring by the private sector:
WASHINGTON — Hiring slowed to a near-standstill last month. Employers added the fewest jobs in nine months and the unemployment rate rose to 9.2 percent.
The economy generated only 18,000 net jobs in June, the Labor Department said Friday. And the number of jobs added in May was revised down to 25,000.
The latest report offered stark evidence that the recovery will be painfully slow. It also raised doubts that the economy will rebound in the second half of the year after hitting a spring slump.
Businesses added just 57,000 jobs last month_ the fewest in more than a year. Governments cut 39,000 jobs. Over the past eight months, federal, state and local governments have cut a combined 238,000 positions.
Many of 0bama's supporters in the media and elsewhere have characterized the nonexistent recovery as "baffling". By doing so, they only betray their own ignorance. Small (and large) businesses are not hiring because the 0bama administration and their allies in congress have placed too many obstacles in their path. 0bama wants to raise taxes on the wealthy, but he doesn't understand that most of the wealthy are small business owners. His 0bamacare will increase health care costs for employers, such that one-third of businesses are contemplating dropping health insurance coverage for their employees. The many other taxes and regulations that the Democrats have enacted or contemplated enacting, such as the ridiculous "cap-and-trade" legislation to solve a nonexistent global warming problem, are making it difficult for any business to hire new employees.
And even worse, 0bama wants 'comprehensive' immigration reform, meaning amnesty for some 12 million illegal aliens, many of whom have taken jobs away from Americans. He cares more about the citizens of foreign countries than he does about the citizens of the USA.
What amazes me is that anyone would fall for the BS that 0bama and his minions continue to spew. How long does unemployment rate need to stay high in order to convince them?