Jamesb101.com

commentary on Politics and a little bit of everything else

Why is the Unemployment number going up?

Because private business and state and local government are laying people off…

That’s why….

And it’s due to low demand for services from businesses and cost cutting while state and local governments are cutting THEIR costs also…

The increase in layoffs is a key reason why the U.S. recorded an average of only 21,500 new jobs over the past two months, far below the level needed to bring down unemployment, which now stands at 9.2%.

The cuts also reflect the shifting outlook of employers, many of whom had expected the economy to gain speed as the year progressed. Instead, growth has faltered. If the pace continues to disappoint, more companies will feel pressure to pull back. “Layoffs have played a big role [in weak job growth] over the last few months,” said Mike Montgomery, an economist at IHS Global Insight. “The soft patch is more layoffs and nothing else to pick up the slack.”

More….

From Politicaldog101.Com….

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July 21, 2011 - Posted by | Blogs, Breaking News, Government, Home, Media, Other Things, Politics, Polls, Projections, Taxes, The Economy, Women | ,

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