The online edition of the Wall Street Journal reports that the unemployment rate held steady at 9.5%, "a further sign the economic recovery may be losing momentum."
They report:
Nonfarm payrolls fell by 131,000 last month as the rise in private-sector employment was not enough to make up for the government jobs lost, the U.S. Labor Department said Friday. Only 71,000 private-sector jobs were added last month while 143,000 temporary workers on the 2010 census were let go.
After the worst recession in decades, the recovery that began in July 2009 has recently been losing momentum, but it's hard to say if it's just a temporary slowdown or if the economy could start to contract again.
To read the full article, go here.
This is happening as First Lady Michelle Obama vacations in Spain on the backs of the taxpayers. She's is beginning to be called Marie Antoinette.
If you think this is bad, just wait for what happens in January when taxes are hiked!
How's that hope and change working out for you?
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