Showing posts with label President Obama. Show all posts
Showing posts with label President Obama. Show all posts

Friday, April 6, 2012

Is the Economy Growing or Just "Treading Water"?

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The U.S. lost 4.3 million jobs in President Obama's first 13 months in office and has stumbled to recover.

Hiring slowed dramatically in March, clouding optimism about the strength of the recovery, according to Annalyn Censky of CNN Money.

Employers added 120,000 jobs in the month, the Labor Department reported Friday, falling far short of economists' expectations.

The number marked a significant slowdown in hiring from February, when the economy added 240,000 jobs.

"It's discouraging that job growth was half of what it had been the previous month," said Christine Owens, executive director of the National Employment Law Project.

Job growth of around 120,000 is just about enough to keep up with population growth, and is therefore more like "treading water" than a major improvement, Owens said.

"It's a reminder that the U.S. recovery is not suddenly going to transform into a spectacular success, particularly not at a time when the rest of the world economy is stumbling," Paul Ashworth, chief U.S. economist of Capital Economics said in a note.

The hardest hit industry was retail, which lost 33,800 jobs, mostly at department stores.
On the positive side, manufacturers created 37,000 jobs, professional services created 31,000 jobs, and health care added 26,000 jobs.

To view the entire article, click here: http://money.cnn.com/2012/04/06/news/economy/jobs-report-unemployment/?hpt=hp_t3
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Wednesday, January 25, 2012

The State of the Union

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President Obama scarcely mentioned healthcare in his third State of the Union address Tuesday night, even as the healthcare reform law he championed is hanging in the balance at the Supreme Court.

The bulk of Tuesday night's address before a joint session of Congress focused largely on jobs and the economy, and touched on taxes, education, and fixing a "broken" and fiercely partisan Washington.

A poll cited by FOX News asked voters which statement they agree with more: “President Obama is making a good faith effort to deal with the country’s economic problems, but the Republicans in Congress are playing politics by blocking his proposals and programs.”

Or this: “President Obama has not provided leadership on the economy, and he is just blaming the Republicans in Congress as an excuse for not doing his job.”

Have you or someone you know been affected by a job loss in these recent years? What are your thoughts?

Read more: http://www.foxnews.com/opinion/2012/01/24/president-obama-and-state-our-future/#ixzz1kRgbnO8m
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