December 3, 2010 by USA Post
Unemployment Rate, The U.S. unemployment rate reached 9.8 percent while the economy has added 39,000 jobs in November surprisingly low, underscoring the nature of the recovery off dull – and placing the policy challenges facing President Stark Barack Obama in relief as he heads into the second half of his first term
The employment figure was announced Friday, which came in below expectations of a gain of about 150,000 jobs, representing a sharp decline in job growth last month, which was revised upwards to 172,000 of 151,000. Obama is talking about the numbers 11:15
The November figure punctured hopes rising that the economy was hit high gear following stronger reports in recent days on consumer confidence and weekly unemployment claims. The low number could increase pressure on Republicans in Congress to extend unemployment benefits about to expire for two million Americans on the job.
But Republicans also threw himself on the number, saying it was a clear reason to extend all the tax cuts the Bush administration to stimulate hiring by small businesses.
“The economic situation is uncertain at best and steadily evaporating the worst, but through it all, there seems to be an alarming lack of urgency by the Democrats because they refused to take concrete steps to resolve and final the uncertainty created by the expiration of tax cuts, “said Rep. Darrell Issa (R-Calif.)” You’d think that after the November elections, Democrats would have realized how much of a button their policies were wrong.”
In addition to the anemic number of jobs, average hours worked and earnings were flat last month. The average workweek held at 34.3 hours and average hourly earnings rose just 1 percent to $ 22.75. During the past year, average hourly earnings rose only 1.6 percent, indicating that workers are not brining home enough money to stimulate consumption, the main engine of economic growth.
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