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Washington, D.C. - The national jobless rate dipped slightly in June to 9.5%, but the U.S. lost 125,000 jobs last month as the Census Bureau shed 225,000 temporary workers undercutting President Obama’s “Summer of Recovery” campaign to convince a skeptical American public of the benefits of last year’s massive stimulus bill.
Private sector employment added an anemic 83,000 jobs while the long term unemployed – those out of work six months or longer – remained at 6.8 million. While the unemployment rate fell, it fell for the wrong reason, a precipitous drop of 652,000 in the labor force. The number of discouraged and other marginally attached workers that have stopped actively seeking jobs rose to 2.6 million, an all-time series high.
"Americans don't see an economy in recovery, they see a White House seemingly incapable of protecting our beaches or getting people back to work,” said U.S. Congressman Kevin Brady (R-Texas), the top House Republican on the Joint Economic Committee. "Consumer confidence is flagging because families are frightened by dangerous deficits as far as the eye can see. Businesses are slow to hire because they fear higher taxes, job killing regulation and a dysfunctional Washington that is ideologically driven and increasingly anti-business.
“So much for the President’s promise that he would jumpstart the economy and restore consumer confidence if Congress simply passed his $862 billion stimulus nearly 18 months ago,” added Brady. “Most taxpayers would like their money back…or at least their job back.”
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