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United States Department Of Labor
Latest United States Department Of Labor Items
Unemployment rates rose in more than half of U.S. states in June, evidence that slower hiring is affecting many parts of the country.
In my column last week, I reported that only 18,000 American jobs were created in June, a number well below the 125,000 economists expected. That news, coupled with a worsening economic crisis in Europe, raised the demand for U.S. Treasury bonds, which in turn lowered their yield. Mortgage rates followed.
More people applied for unemployment benefits last week, evidence that layoffs are rising and the job market is weak.
President Obama's job approval score sank to nearly 40 percent this week in the midst of a budget and debt-limit crisis that threatens to further weaken our economy and America's future.
I've been in Congress for a little more than six months now, and not a single day has gone by without a call for more jobs, more innovation and faster economic recovery. We wonder why foreign investment continues to stay overseas and our own American companies are flocking to foreign shores as fast as they can. All the while, our corporate tax rate remains the highest in the industrialized world, our federal government continues to punish productivity, and roughly $431 billion will be wasted this year trying to comply with our baffling tax code.
A mixed slate of reports Thursday showed the economy is being held back by high gas prices and sluggish hiring.
Even as the National Labor Relations Board (NLRB) is pilloried by the editorial pages of mainstream newspapers from coast to coast for its ridiculous efforts to tell Boeing how - and where - to create jobs, the captured agency is already warning of its next target: the 6 million businesses, large and small, within the board's grasp.
The new chief of the International Monetary Fund has appointed a senior White House official to be her top deputy.
President Obama and his advisers must think unemployment or the economy won't matter to the average voter next year. About 1 in 6 Americans either find themselves in the unemployment line or are stuck flipping burgers to get by. Wages declined last month as unemployment and inflation ticked up. The economy isn't growing, the job market is worsening, and Mr. Obama is threatening more of the same economic policies.