Private sector only added 13K jobs in June

Posted on June 30, 2010


The new estimates are a growth of only 13,000 jobs in the private sector, down from last month’s 57K and far below expectations: (a word about “expectations”… who are these experts that constantly get these things wrong?  EVERYTHING is higher than expected or lower than expected, they’re never accurate)

The numbers fall short of even May’s disappointing figures, when the DoL survey showed an expansion of 431,000 jobs — but only 41,000 of them in the private sector.  This shows that whatever momentum the Obama administration had in improving the jobless rate has dissipated.  That means when this administration boasts about all the jobs it’s creating and how we’re already recovering they aren’t telling you the truth, they’re spinning the reality.  In May the government claimed 431,000 jobs were added.  Well the government can’t create jobs.  It doesn’t produce anything.  So 390,000 of those jobs were simply temporary forms of welfare where 390,000 unemployed people were being paid from the pockets of working tax payers.  Wealth transfer.

The real problem is the future, not the past, and investors fear the future.  They see a government gorging on debt and spending, and that high taxes and capital seizure is the most likely endgame for it.  Instead of pro-growth policies, the agenda in Washington intends on government encroachment on the private sector.

Posted in: Economy