Last Updated:December 18 @ 06:02 pm

US employers add 80,000 jobs as Obama economy struggles

By Christopher S, Rugaber

WASHINGTON (AP) - U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is struggling three years after the recession ended.

The Labor Department said Friday that the unemployment rate was unchanged at 8.2 percent.

The economy has added just 75,000 jobs a month in the April-June quarter. That's one-third of 226,000 a month created in the first quarter. Job creation is also trailing last year's pace through the first six months of 2012.

Stock futures fell modestly after the report came out. Dow Jones industrial average futures were down 24 points before the report at 8:30 a.m., and were down 60 points minutes later.

Yields for government bonds sank, an indication that investors were putting money into the Treasury market. The yield on the 10-year U.S. Treasury note was 1.59 percent just before the report and 1.57 percent after it came out.

A weaker job market has made consumers less confident. They have pulled back on spending, even though gas prices have plunged.

High unemployment could shift momentum to Mitt Romney, the presumptive GOP presidential nominee. An Associated Press-GfK poll released last month found that more than half of those surveyed disapproved of President Barack Obama's handling of the economy.

Dismal June job figures could also prompt the Federal Reserve to take further action to try to boost the economy. The Fed last month downgraded its economic outlook for 2012. It predicted growth of just 1.9 percent to 2.4 percent for the year and little change in the unemployment rate.

Job gains in April and May were little changed from the department's previous estimates.

There were some good signs in the report. The average work week grew to 34.5 hours from 34.4 in May, boosting many workers' paychecks. And average hourly wages rose 6 cents to $23.50. Hourly pay has increased 2 percent in the past year and is ahead of inflation, which has fallen in recent months along with gas prices.

About one-third of the jobs gained in June were in temporary services. Manufacturing added 11,000, its ninth straight month of gains. But growth in factory jobs slowed sharply in the second quarter compared to the first. Health care added 13,000 jobs and financial services gained 5,000. Retailers, transportation firms and government cut jobs.

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9 Comments

  1. dalnbComment by dalnb
    July 6, 2012 @ 9:53 am

    We can not expect any improvement in our economy or job growth when we saturate the media with comments that this is not the time to start new companies, to expand our business’ or to be hiring new employees. Putting fear into the minds of employers as the media has seemed to be doing is counterproductive. We survived for years in spite of taxes and regulations; in fact until the early years of the turn of the century when the federal government started ignoring laws relating to small business we did just fine.
    In 2006 and 2007 Senator McCain, the Commerce Department, Small Business Administration, Labor Department and Chamber of Commerce were all telling the Bush Administration that ignoring small business laws, regulations and policies was leading us into serious problems; Bush continues to ignore the problems and look where that took us.

    Business men and women are capable managers and are accustomed to risk; they do just fine. Convincing them that they will fail does nothing to help improve our economy!

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  2. highsiderComment by highsider
    July 6, 2012 @ 10:42 am

    And over half the 80,000 new jobs were provided by the DNC in hiring Romney hecklers. They were all offered fulltime jobs, after the election in the MS news media, but we all know they’re actualy temps and that those positions will not exist after November.

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  3. cynicalobserverComment by cynicalobserver
    July 6, 2012 @ 11:45 am

    Diane Sawyer reporting on U.S. Roads and Bridges Being Built By Chinese Companies. The bridges are right here in the U.S. and yet Obama has approved for Chinese contractors to come in and do the work. All a part of the destruction of America by the Obama group.

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    • lwessonComment by lwesson
      July 6, 2012 @ 12:31 pm

      And how about the importation of green card labor? How about all of those illegal aliens that wash in every day? How about all of the illegal aliens that are cuddled by Obama, and supported by the US Chamber of Commerce?

      A halt to ALL immigration, would be a refreshing change. E-Verify an encouraging use of information. High unemployment, staggering under-employment and yet, the Powers that Be, think that more is better. Well, cheeeeeap bio labor wins again, and We the People loose.

      The Government was set up for us, We the People, to serve us…, but I postulate that The Government is openly HOSTILE to us, and openly wants to replace us.

      This Election Cycle, you see all sorts of mouthings about jobs, patriotic hubris, to us voters. AFTER the election, we are NOT needed. Hopefully, The Tea Party will keep feet to the fire, if, hopefully if, the current treasonous clowns are removed.

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  4. inluminatuoComment by inluminatuo
    July 6, 2012 @ 11:56 am

    Any businessman would be a fool to risk his Capital in the Obama business climate of taxation with deluded representation in AN AMERICA IN DEPENDENCE rather than celebrating AN AMERICA INDEPENDENCE where people actually get to keep most of their hard earned honest Capital. Nothing will be done until Obama and his Job Killing Obamacare policies are removed from office and our law books.

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  5. joelinpdxComment by joelinpdx
    July 6, 2012 @ 12:12 pm

    80,000 jobs and the Obozo Administration says we’re on the right track. We need to create 100,000 jobs a month just to keep pace with the population. Four months until the delusions are sent packing.

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  6. cxComment by genesal
    July 6, 2012 @ 12:15 pm

    Small companies haven’t been hiring due to the ‘uncertainty’ of Obamacare. Now they can’t hire due to the ‘certainty’ of Obamacare which they cannot afford and won’t take a chance.
    I can’t see where Obamama has helped the economy in 3 1/2 years. Not once.

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  7. BillzillaComment by Billzilla
    July 6, 2012 @ 12:52 pm

    “There were some good signs in the report. The average work week grew to 34.5 hours from 34.4 in May, boosting many workers’ paychecks. And average hourly wages rose 6 cents to $23.50. Hourly pay has increased 2 percent in the past year and is ahead of inflation, which has fallen in recent months along with gas prices.”

    These are “good signs”? Hourly pay is ahead of inflation? The work week “grew” one tenth of an hour? What planet does AP writer Christopher S, Rugaber live on? Christopher seems to be a shill for Obama, not a serious journalist.

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    • joelinpdxComment by joelinpdx
      July 6, 2012 @ 2:47 pm

      Serious journalist is an oxymoron.

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