“Well, we just had another bad jobs report. The U.S. economy created just 80,000 new jobs during the month of June. Normally, about 125,000 new jobs need to be created every month just to keep up with population growth. So it is a bit odd that the official unemployment rate did not rise above 8.2%. What is even more alarming is that the Social Security Administration is telling us that 85,000 U.S. workers “left the workforce” and enrolled in the Social Security Disability Insurance program during the month of June. That means that the number of Americans enrolling in Social Security Disability actually exceeded the number of new jobs that was created. That is definitely not a sign of recovery. Unfortunately, this is about as good as things are going to get. Right now corporate profits are at an all-time high and usually after a recession has ended the percentage of working age Americans that have jobs bounces back very strongly. But that has not happened this time, and when the next economic crisis hits things are going to get a lot worse.”
“- Total Nonfarm Payrolls have decreased by -1.3 million from December 2008 (134,379K) to June 2012 (133,088); Source: St. Louis Fed
- Full-time jobs based on the Household Survey, have decreased by 2.5 million from 117,039K to 114,573K; Source: Table A.9, BLS
- Parti-time jobs based on the Household Survey, have increased by 1.6 million from 26,3187 to 27,894K; Source: Table A.9, BLS
- Foodstamps recipients have increased by 14.6 million from 31.567 million to 46,187 (as of April 2012); Source: USDA
- Disability recipients have increased by 1.3 million from 7.427 million to 8.733 million; Source: Social Security Administration”
Via Zero Hedge
“The U.S. government is spending $20 million to “help clean energy projects in Africa get started.” Those projects include wind farms and solar panels, Secretary of State Hillary Clinton announced at the recent Rio +20 Conference in Brazil.
But the government watchdog Judicial Watch criticized the spending as wasteful, given the administration’s track record in trying to pick green energy winners.
“The U.S.-Africa Clean Energy Finance Initiative will help clean energy projects in Africa get started,” said Clinton in her June 22 speech. “This is an innovative partnership between three United States government entities – the State Department, OPIC (the Overseas Private Investment Corporation), and the U.S. Trade and Development Agency. We want to drive private sector investment into the energy sector.””
Via CNS News
“Nonfarm payrolls rose by just 80,000 in June, slightly worse than expected and the third straight month of sub-100,000 job growth. The jobless rate held at 8.2%. The employment report was disappointing. Here are 10 reasons why the jobs market is even worse than the headline figures.”
“A nasty piece of malware called DNSChanger will kick thousands of Mac and PC users off the Internet on Monday, and there’s a chance you could be one of them.
The FBI is shutting down domains that have been affected by the DNSChanger malware, which has been circulating the web since as far back as 2007. The malware redirected Internet traffic to sites with paid advertisements where cybercriminals reaped profit from unsuspecting visitors.
The trojan’s creators — six Estonian nationals — shut down their services when they were caught and arrested about eight months ago.
Although the FBI has been urging consumers for months to check if their systems have been affected by DNSChanger, about 275,000 computers are still at risk of not having Internet access on Monday, July 9.”
Link in the article for a quick check Here
“There was a net decline of 406,000 in the number of Americans age 25 or older with a bachelor’s degree or higher who were working in the United States in June, according to the Bureau of Labor Statistics.
A net of 309,000 in this demographic simply dropped out of the labor force, which means they neither had a job in June nor actively tried to find one, according to BLS.
The number of Americans age 25 or older with a bachelor’s degree or higher who were “unemployed”—meaning they did not have a job but did actively try to find one—increased by 96,000 in June.”
Via CNS News