Andre Damon (WSWS) reports:
The unemployment rate rose for a third consecutive month in June, as the US economy added far fewer jobs than new workers, according to the latest jobs report released Friday by the Labor Department. The report confirms a new downturn in the labor market amid the Obama administration's campaign to cut government jobs and spending.
The US economy added 18,000 jobs, less than one-fifth of the 105,000 that economists predicted in a poll conducted by Bloomberg News. The unemployment rate hit 9.2 percent, up from 9.1 percent in May, and 8.8 percent in March. The number of unemployed people grew by over half a million over the past three months.
The White House responded to the report with a press statement calling for more spending cuts. "We’ve got to rein in our deficits and get the government to live within its means," said Obama. "The sooner that the markets know... that we have a serious plan to deal with our debt and deficit, the sooner that we give our businesses the certainty that they will need," he said.Idiot of the week . . .
The idiot of the week is those who value Social Security but voted for Barack Obama. Barack who's getting ready to gut the safety net.
Here's C.I.'s "Iraq snapshot:"