- Jul 9, 2011
Let's look at the jobs report for July.Hi Ren:
Thanks for waking people up. I predicted a lot of what is coming. For example:
U.S. first-quarter GDP contraction worse than feared - Fortune
They are blaming snow. Yeah, that is the reason why the economy shrinks instead of grows.
Folks, we can't make this stuff up. Oh, did I say snow. Like we were told about global warming.
However, this has been a record cold year. Last week it was 49 in Chicago in July - yes.
It was reported that 200,000 jobs were created.
Further down in the report, it says 140,000 of those jobs were private sector service jobs. Next to that statement was a picture of adults serving fast food.
Turns out the U.S. was expecting 230,000 jobs and the unemployment rate went from 6.1 to 6.2%.
But the report was seen as a sign of economic recovery.