US loses 131,000 overall jobs in July. June revised way down

Nonfarm payrolls fell by 131,000 last month as the rise in private-sector employment was not enough to make up for the government jobs lost, the U.S. Labor Department said Friday. Only 71,000 private-sector jobs were added last month while 143,000 temporary workers on the 2010 census were let go.

And they revised June downward to a loss of 221,000 from 125,000. So we have lost 353,000 overall jobs in the last two months. I know they had talked so highly last month how they added 83,000 private sector jobs but now that number was rivsed way down to 31,000. Are we heading for a double dip recession?


http://www.dailyfinance.com/story/caree ... /19583596/

Have you thought about changing your name to Chicken Little?

Wayne Harrison wrote: Have you thought about changing your name to Chicken Little?

I love how liberals can't talk about reality and what is really happening in the world. Sorry that you can't handle facts so early in the morning. So I guess every station in the country and all newspapers and all reportes who talked about this and the US Labor Department who gave these numbers are all Chicken Little too? Wayne you are smarter than this. I expect it from some on here but this is the best response that you can some up with? Really?

So does anyone else want to actually talk about the unemployment situation? There has been talk of a possible double dip recession for a while. Do you think it may happen? If you take away the census workers which were only temproary and only every 10 years, there has not been one month where we have gained jobs.

I don't think we will have a DD recession, just a very slow recovery. The economy was so far down that it is going to take a few years for things to stabilize.

Vike, I was referring to your daily gloom and doom posts. Not this once piece in the giant puzzle of the economy.

JMC wrote: I don't think we will have a DD recession, just a very slow recovery. The economy was so far down that it is going to take a few years for things to stabilize.

I hope you are right. But it looks like the recovery is stalling. And I don't think anyone will go for another stimulus that we won't ever be abale to pay for.

Rumor is that Obama is going to go around Congress and have Fanny/Freddie forgive all underwater mortgages. Just a rumor I heard.

Remember, there are both Chicken littles, and there are Ostriches with their heads in the sand.

If they do this I want a cash payment from the Feds on the savings interest I lost, as well as the drop in market value of my paid off home.

http://online.barrons.com/article/SB500 ... ws_barrons

"The latest trial balloon would have Fannie Mae (FNMA) and Freddie Mac (FMCC), the mortgage giants operating under Treasury conservatorship, forgive the portion of loans that exceed the now-deflated value of the properties to which they're attached."

Wayne Harrison wrote: Vike, I was referring to your daily gloom and doom posts. Not this once piece in the giant puzzle of the economy.

It is just the daily news. I can't help it that Obama's policies have made out news and outlook so gloomy. I would love if there were something positive to post. But if there were positive, then why don't you post it? You can't because there really isn't much if any. And you guys still will not tell us anything that he has done that the majority of Americans are happy with.

Joe wrote: Rumor is that Obama is going to go around Congress and have Fanny/Freddie forgive all underwater mortgages. Just a rumor I heard.

Remember, there are both Chicken littles, and there are Ostriches with their heads in the sand.

If they do this I want a cash payment from the Feds on the savings interest I lost, as well as the drop in market value of my paid off home.

http://online.barrons.com/article/SB500 ... ws_barrons

"The latest trial balloon would have Fannie Mae (FNMA) and Freddie Mac (FMCC), the mortgage giants operating under Treasury conservatorship, forgive the portion of loans that exceed the now-deflated value of the properties to which they're attached."

That will never fly Joe. The political fallout would be enormous. Politicians (of both parties) are not going to let that happen.

Joe wrote: Rumor is that Obama is going to go around Congress and have Fanny/Freddie forgive all underwater mortgages. Just a rumor I heard.

Remember, there are both Chicken littles, and there are Ostriches with their heads in the sand.

If they do this I want a cash payment from the Feds on the savings interest I lost, as well as the drop in market value of my paid off home.

http://online.barrons.com/article/SB500 ... ws_barrons

"The latest trial balloon would have Fannie Mae (FNMA) and Freddie Mac (FMCC), the mortgage giants operating under Treasury conservatorship, forgive the portion of loans that exceed the now-deflated value of the properties to which they're attached."

I heard that too. You know, I think I am going to start taking the handouts. Why fight it? Everyone else is taking part of it. I might as well too. Otherwise I will be the one getting screwed.