- Economic outlook worsens as U.S. adds only 18,000 jobs in June, By Neil Irwin, July 8, 2011, Washington Post: “Job growth came nearly to a halt in June, the federal government said Friday with surprisingly grim new data that challenge expectations that the economy is poised to bounce back from its spring lull. The disappointing report comes at a sensitive time, as President Obama and Congress engage in high-stakes negotiations over raising the legal cap on the $14.3 trillion federal debt. The weaker job market could make Democrats all the more reluctant to agree to spending cuts that might further slow the economy in the service of reducing long-term budget deficits. Employers added 18,000 jobs in June, a trivial number in a country with 150 million workers, and the unemployment rate rose to 9.2 percent from 9.1 percent, the Labor Department reported. It was a far worse report than expected: Economists had forecast 105,000 new jobs…”
- Job growth falters badly, clouding hope for recovery, By Motoko Rich, July 8, 2011, New York Times: “For the second month in a row, employers added barely any jobs in June, showing that the economic recovery has hit a serious speed bump. With all levels of government laying off workers, the Labor Department reported that employers eked out just 18,000 new nonfarm payroll jobs in June. The already low number created in May was also revised downward to a dismally small 25,000 new jobs, less than half of what was originally reported last month. Although the government’s survey of employers showed them adding jobs, a separate survey of households showed that more people were out of work than in the previous month, causing the unemployment rate to rise to 9.2 percent…”
Poverty-related issues in the news, from the Institute for Research on Poverty