Unemployment rose to 9.2 percent as hiring stalls

Unemployment rose to 9.2 percent as hiring stalls

POSTED: Friday, July 8, 2011 - 6:50am

UPDATED: Friday, July 8, 2011 - 4:29pm

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 Labor Department says the economy generated only 18,000 net jobs in June. And the number of jobs added in May was revised down to 25,000.

High gas prices and supply-chain disruptions stemming from the Japan crisis and the weak housing market have slowed the economy.

Average hourly wages declined last month. After-tax incomes, adjusted for inflation, have been flat this year.

Businesses added the fewest jobs in more than a year. Governments cut 39,000 jobs.

Hiring has slowed sharply in the past two months. The economy added an average of 215,000 jobs per month in the previous three months.

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Wait, wait... Let me get this straight. Is this HOPE or CHANGE? 2 1/2 years (2 of which were 100% Democratic control) and unemployment is higher than it was in those awful days under Bush? The govenment is spending more than it ever has in history and can't pay its bills and we wonder why companies are aftraid to hire or expand? And with the threat of more taxes hanging over their heads, companies aren't going to hire because they can't afford it. Reduce gov't spending and let capitalism work.

Guess those Bush tax cuts for the wealthy that y'all claim will create jobs just don't work, haven't worked and will never work. Where are the jobs? The Bush tax cuts have been in place now for 12 years so I ask again WHERE ARE THE JOBS?

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