Friday, July 02, 2004

More evidence of Bush's economic leadership

Oh dear, it looks like Bush’s economic recovery, such that it is, is stalling once again. Such a shame.

“The nation's expanding economy produced 112,000 new jobs in June, the Labor Department reported today, far fewer than expected and well short of the numbers generated in the previous three months...

“The 112,000 job growth number was a bit of a shock to economists, who had predicted steady increases in the range of 240,000 for June. The most significant slowdown occurred in the manufacturing sector, which shed 11,000 jobs after four months of growth. Five thousand government jobs were lost and construction employment was flat.
All of June's job growth came in service industries.”

Oh goody! More service sector jobs!

As Atrios notes, it takes at least 140,000 jobs just to keep up with population growth in the job market.

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