Summer’s Almost Over and the Economy is Still Bleeding Jobs
Washington- The Obama White House promised this would be a summer of economic recovery, but after another disappointing month of high unemployment it is evident that is simply not the case. Now, New Hampshire families can add another false promise to their growing list of grievances against Carol Shea-Porter and an out-of-touch Democrat majority, whose runaway spending addiction has led the economy astray. With unemployment standing at 9.5 percent and over 130,000 jobs lost last month, New Hampshire families are feeling burned by Shea-Porter and her Washington friends, whose trillion-dollar stimulus has failed to bring them out of this jobless recovery.
“With the country’s unemployment rate at a staggering 9.5. percent, the summer heat isn’t the only thing leaving middle-class families feeling burned by Carol Shea-Porter and her Washington friends,” said NRCC Communications Director Ken Spain. “Democrats promised a summer of economic recovery, but another month of high unemployment indicates otherwise. And while New Hampshire families realize that Shea-Porter's failed economic policies are not going to lead them out of a jobless recovery, her party’s repeated empty promises are nothing but insulting.”
Even though this is supposed to be a summer of recovery, jobless claims rose last week to the highest level since April:
“Initial requests for jobless benefits rose last week to their highest level since April, a sign that hiring remains weak and some companies are still cutting workers. The Labor Department said Thursday that new claims for unemployment insurance rose by 19,000 to a seasonally adjusted 479,000.”
“’But the jump in claims is a cautionary sign that higher corporate profits and a slowly recovering economy aren't spurring companies to generate many jobs. ‘The very unyielding flow of layoffs now clearly evident discourages any thought that employers are more comfortable with the size of their staffs,’ Pierre Ellis, an economist at Decision Economics, wrote in a note to clients.” (“New jobless claims take surprise jump,” Associated Press, 8/05/2010)
As a result of the Democrats’ failed policies, an ‘anemic’ economy is underperforming once again:
“U.S. employment fell for a second straight month in July as more temporary census jobs ended while private hiring rose less than expected, pointing to an anemic economic recovery.
“Non-farm payrolls fell 131,000 the Labor Department said on Friday as temporary jobs to conduct the decennial census dropped by 143,000.” (“Jobs Picture Worsens with 131,000 Job Losses; 9.5% Rate,” Reuters, 8/6/10)
As the economy continues to feel the consequences of the Democrats’ failures, New Hampshire families are wondering: Where are the jobs?