The economy added 288,000 jobs in June. Overall jobs creation has improved in 2014, but it remains far short of the 390,000 needed each month to keep up with population growth and genuinely reduce unemployment, and well less than the pace accomplished during the Reagan–Clinton prosperity.
The jobless rate is down to 6.1 percent from the recession peak of 10 percent, but most of the reduction has been accomplished by adults quitting the labor market — neither working nor looking for work. If the same percentage of adults were in the labor force today as when Presidents Obama or George W. Bush took office, the jobless rate would be 10.2 percent and 12.2 percent, respectively.
Three problems have limited jobs creation during both the Bush and Obama years — slow economic growth overall; a disinclination to control the border with Latin America or disappoint businesses' appetite for cheaper skilled labor from Asia; and the work disincentives imposed by social programs intended to redress income inequality and help the disadvantaged.
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3 comments:
More lies. Want me to believe that!!!! Show me job creation in salisbury other than a restaurant.
Farm and seasonal help in resorts and amusement parks is all.
what don't you understand??? the jobs that are being "created" are in the government or they are part-time low wage jobs!!! do you understand this or not!? if you don't you are as dense as the trunk of a large tree.
the actual unemployment rate is from 10-15 %...not satisfactory.
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