Despite the $1 trillion Obama and the Democrats have thrown into the economy, the private sector remains very weak:
The size of the US labour force has shrunk since May by 652,000, the second largest monthly fall since 1995, as fears that the US economic recovery may be fizzling out took hold.
US jobs data released on Friday showed that businesses created a modest 83,000 jobs in June. The government’s monthly jobs report disappointed economists and confirmed that the labour market had lost momentum since April, when private payrolls grew by 241,000.
On the surface, one bright spot in Friday’s report was the decline in the unemployment rate, which fell from 9.7 per cent in May to 9.5 per cent last month – its lowest level since July 2009.
But economists were quick to point out that the fall was driven by the fact that the labour force shrank by 652,000 people last month. This suggests that many people who came back into the workforce this year have now been sidelined.
The only “answers” we’ve seen from Democrats has been to throw away taxpayer dollars on “stimulus” which has doubled our debt in 15 months or to raise taxes. No wonder businesses aren’t too eager to take on new employees. Just Politics..? has said over and over that the best way to create jobs are to let the kinks work themselves out of the marketplace naturally, reduce taxes, and take the politics out of areas like the banking industries which pushed for home loans to be made to those who obviously didn’t qualify.
Senate Republican leader Mitch McConnell sums it up best:
The two things that are growing fastest in this Democrat economy are the size of the federal government and the crushing burden of the national debt
When America truly begins creating lasting private sector jobs that help our economy grow, it will be despite the government, not because of it.
Infecting the economy with the big hand of government only does harm.