JOBS - June Jobs Report

Up Front: I wish we (U.S.) would stop this month-by-month myopic focus on both jobs and economics. For heavens sake, these things do NOT change that fast. We need to focus on a long outlook, like what's the trend for the last 12mts. Also, crystal balls are a myth, so the economists' view just could be wrong.

"Job Growth Remains Tepid" by CATHERINE RAMPELL, New York Times 7/6/2012

Excerpt

The nation’s employers created almost enough jobs to keep up with population growth in June, but not nearly enough to reduce the backlog of nearly 13 million unemployed workers.

The economy added 80,000 jobs last month, the Labor Department reported Friday, after a revised increase of 77,000 in May. The unemployment rate remained at 8.2 percent.

Economists are expecting tepid job growth for the rest of the year, too.

“This economy has no forward momentum and little help from monetary or fiscal policy,” Kathy Bostjancic, director of macroeconomic analysis for the Conference Board, said. “As if that were not enough, ill winds are blowing in from both a contracting Europe and slowing growth in emerging markets. Also, domestic lawmakers’ inaction on the upcoming ‘fiscal cliff’ creates uncertainty that is not conducive to hiring.”