The Bucknuts Hot Spot

Just wait till this fall and winter comes . If its this bad now, it will only get worse . Not good at all ..

What's crazy is both my wife and I are in IT fields and both our companies are hiring. The problem has been finding qualified people, not a lack of jobs in our respective fields.

I wonder what spin the Liberals will put on this jobs report?

The DailyKos and MSNBC hasn't told them what to say yet.

We've cut tons of public sector jobs which will not be replaced including over 100K teaching positions... that's a very big difference between Reagan and Obama or anyone else and Obama.... http://www.businessinsider.com/over-100000-local-teaching-jobs-have-been-lost-in-the-last-year-2012-7

Excellent post, Zeke... nice that the cons celebrate the fact that the middle class is struggling....

The market is down 168 right now because of the jobs report.

Dismal U.S. hiring shows economy stuck in low gear
REUTERS — 11:03 AM ET 07/06/12
By Jason Lange

WASHINGTON (Reuters) - Employers hired at a dismal pace in June, raising pressure on the Federal Reserve to do more to boost the economy and dealing another setback to President Barack Obama's reelection bid.

The Labor Department said on Friday non-farm payrolls expanded by just 80,000 jobs in June, falling short of forecasts and barely changed from May's revised reading of 77,000.

Job creation during the month wasn't enough to bring down the country's lofty 8.2 percent unemployment rate, and the report fueled concerns that Europe's debt crisis was shifting the U.S. economy into low gear.

"We're just crawling forward here," said Nigel Gault, an economist at IHS Global Insight in Lexington, Massachusetts.

While Obama holds a narrow lead in most national polls, voters are often critical of his handling of the economy.

White House economic adviser Alan Krueger told Reuters Insider after the data "recoveries don't move in straight lines," but Mitt Romney, Obama's Republican challenger, assailed the president for not doing enough to get people back to work.

"This kick in the gut has got to end," Romney told reporters in New Hampshire.

U.S. stocks traded lower, while yields on U.S. government debt fell as traders ramped up bets the Fed would launch a third round of bond purchases to push already low borrowing costs down further. The dollar fell against the yen, but rose against the euro as investors sought a safe haven.

The Fed last month extended a program aimed at keep long-term interest rates pressed down, and said it was prepared to do more to spur the economic recovery if needed.

Economists said the somber jobs report would push the U.S. central bank closer to a third round of so-called quantitative easing, or QE3. The Fed's next two-day policy meeting ends August 1.

Analysts polled by Reuters expected an increase in payrolls of 90,000 jobs.

"The market will see this as increasing the possibility that QE3 is coming," said Cary Leahey, economist and managing director at Decision Economics in New York.

Job creation averaged 75,000 per month during the second quarter, compared with an average increase of 226,000 in the first quarter. Part of the slowdown could be because mild weather led companies to boost hiring in the winter at spring's expense.

But recent weakness in everything from manufacturing to retail sales suggests something more fundamental is at play, and the jobs data buttressed that view.

"It's very consistent with business leaders lacking conviction with what the future holds," said Brian Levitt, an economist at OppenheimerFunds in New York.

Debt woes have bogged down much of Europe, sending some countries into recession. The crisis in turn has dulled economic growth around the world from China to Brazil to the United States.

Europe is not the only weight on the U.S. outlook. Washington plans enough belt-tightening at the start of 2013 to easily send the economy into recession if Congress and the White House can't seal a deal to avoid this "fiscal cliff."

This is what the Right can not understand........ Cutting the government spending = reducing the work force.... Means more people on Govt assistance.

I agree we need to reduce costs, but without both sides working together, it'll be a pissing match and nothing will get done....... In reality, they Need a committee of both sides, to draw up a plan on what to cut.

Speaking of geek just heard Best Buy was cutting it's Geek squad by 1%

We don't need more bloated public sector jobs. They only cost the taxpayers. We need less government. BTW I thought you had me on ignore?

I'm totally in agreement too. +1 to you. I don't understand why people pay $20K plus for an "Art History major".

This next thought challenges my core beliefs but I do see value in subsidizing (wow.. I just said the "s" word) college educations that focus on the "sciences". The issue is picking and choosing which degrees are "worthy" and it's a slippery slope.

The WH has been singing the same old tune for months after month after month. I fit isn't ..."blame it on Bush..." it's this:

http://news.yahoo.com/blogs/ticket/obama-administration-repeated-same-line-jobs-numbers-nearly-171329360.html

Hey Warrior, how do you make your living? What, you're gonna call me another filthy name? That's pretty courageous of you. I don't want to upset you, you are so giddy because of the poor jobs report. Stay happy, keep your chin up and continue to root for the economy to get worse. It's patriotic!