Economic Recovery Continues To Be Slow

Posted on July 8, 2011

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HALEY NELSON

The road to economic recovery continues to be rife with setbacks.

For the second consecutive month, few jobs were added in June, proof that recovery has slowed in this area, along with an increase in the unemployment rate.

The Labor Department reported that 18,000 new payroll jobs were added this month just as various levels of the government laid off employees.

As reported in The New York Times, “The already low number (of jobs) created in May was also revised downward to a dismally small 25,000 new jobs, less than half of what was originally reported last month.”

Although the government layoffs certainly contributed to the increase, part of the increase was due to the perception among the unemployed that the economy was in fact doing better.

With many corporations such as (insert here) stating that they were beginning to hire once again, people began to reenter the labor market and are therefore now counted in the unemployment rate.

Thus, the national unemployment rate has now risen to 9.2 percent.

With multiple factors continuing to drag on the economy and employees’ perception of the economy, it’s clear employers and Americans nationwide will have to continue to weather the slow economic recovery process.

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Posted in: National