In the month of June only 80,000 jobs were created, and this number may in fact sound like a lot to some people, but in reality it is not a very high number. In addition, the unemployment rate remained unchanged at 8.2 percent.
In May, there was an increase of 77,000, and economists are expecting moderate job growth for the rest of the year as well. The growth has been very slow, and there are still nearly 13 million unemployed workers in the United States.
"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 in the New York Times. "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."
The chairman of President Barack Obama's Council of Economic Advisers, Alan B. Kreger, emphasized the need for Congress to act on White House proposals to stimulate the economy through tax cuts for hiring and assistance with mortgage financing.
"I am still optimistic that Congress will do some more things and respond to the American people," he said.
Republican Presidential Candidate Mitt Romney said, "This is a time for Americans to choose whether they want more of the same; it doesn't have to be this way. America can do better. And this kick in the gut has to end."
"When you factor in the effect on U.S. trade, financial markets and credit availability, the Europe crisis is probably taking a percentage point off of U.S. growth," Andrew Tilton, a senior United States economist at Goldman Sachs, said of Europe's impact on America's gross domestic product.
"At this point, expectations are pretty low, so anything that is moving the job market in the right direction would be welcome," said Sophia Koropeckyj, managing director at Moody's Analytics.
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