The economic recovery is at risk. Experts are predicting a double-dip recession, the stock market is all over the place and the unemployment rate remains at 9.1 percent for the third month in a row. Despite the fact that 103,000 new jobs were added last month, there is really no significant change in the state of the nation’s employment market.
There are still 14 million unemployed Americans in the official count, the unemployment rate has remained between 9.0 and 9.2 percent since April and the government sector continues to lose jobs.
In September, government employment decreased by 34,000 with 5,000 of these losses coming in from job cuts at the U.S. Postal Service. The 34,000 government sector job losses were countered by the 34,000 jobs added in the information sector. Unfortunately, this was due to the nearly 45,000 Verizon and other telecommunications industry professionals returning to work after a strike.
The health care industry continued to see an increase in employment with 44,000 new jobs added last month including 26,000 new positions in ambulatory health services and 13,000 new jobs at hospitals across the nation.
Even though job growth was better than economists expected, the news is anything but good. President Obama is trying to take action to correct the stagnant economy but unfortunately he is facing a significant amount of resistance from Congress. In fact, this batch of legislators is now known as the “do nothing Congress
” because that is what they are doing – nothing. The political games have got to stop because these politicians are trying to boost their 2012 campaigns at the expense of millions of Americans.