Friday, July 6, 2012
No good news to report – the unemployment rate didn’t budge from the 8.2 percent rate it reached last month. The Labor Department put the number of jobs added to the economy at 80,000, a minor improvement from May’s 77,000 figure. At this rate, the numbers aren’t even keeping up with demographics. At least 125,000 jobs must be added each month to keep up with population growth.
So, what this means is that about 12.7 million Americans remain unemployed. Even more disconcerting though is that another 88 million are in the same boat but are not counted because they’ve given up looking.
Business Insider notes: