Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Unemployment Numbers Improve, Growth Still Stalled

August 5, 2011 by  

Unemployment Numbers Improve, Growth Still Stalled

Against all expectations, the unemployment rate fell slightly in July, to 9.1 percent, according to the Bureau of Labor Statistics, with 117,000 nonfarm jobs added. However, experts are still concerned.

“While I do not think this sounds the all-clear signal, it does quell some of the conversation that the U.S. is falling back into a recession,” Tom Porcelli, chief U.S. economist at RBC Capital Markets in New York, told Reuters. “There are still plenty of headwinds, like Europe. This report pulls us back from the ledge a little bit.”

However, the article also noted that U.S. growth has “stalled,” and “[e]conomists estimate that the budget cuts and expiring stimulus — including a payroll tax cut and emergency unemployment benefits — could subtract more than a percentage point from GDP growth next year.”

“Until recently, most observers believed the American economy was in a slow recovery, albeit one with very disappointing job growth,” read a news analysis for The New York Times.

“Then last week the government announced its annual revision to the numbers for the last several years. New government surveys indicated Americans had spent less than previously estimated in 2009 and 2010 on a wide range of things, including food, clothing and computers. Tax returns showed Americans even cut back on gambling. The recession now appears to have been deeper — a top-to-bottom fall of 5.1 percent — and the recovery even less impressive. The economy is still smaller than it was in 2007.”

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to yousoundoff@personalliberty.com by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Facebook Conversations

Join the Discussion:
View Comments to “Unemployment Numbers Improve, Growth Still Stalled”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.