This is no discernible recovery; this is no time for half-measures. Budget-cutting (simply to balance a budget) offers no solution. Cuts should me made to spur private investment and offer temporary, emergency assistance where necessary.
Empty tech park schemes and Gov. Walker’s wasteful road-building projects offer no opportunities for ordinary people. (These ideas don’t offer hope; they offer false hope, mere shuffling of public services from one town to another, and petty lies about ‘investment,’ ‘the future,’ etc.)
U.S. employers in May added the fewest number of workers in eight months and unemployment unexpectedly rose to 9.1 percent, underscoring Federal Reserve concerns the expansion is failing to boost the labor market….
Stock-index futures fell and Treasuries jumped as the report fanned concern growth is faltering amid a pullback in consumer spending, which comprises about 70 percent of the economy. The figures raise the odds Fed policy makers will hold interest rates close to zero into next year, said Julia Coronado, chief economist for North American at BNP Paribas in New York.
“These are pretty bleak numbers,” Coronado said. “Some of the engines of hiring just went away. Combined with the slowdown in consumer spending, it raises concern that the slowing in hiring could be with us for a while.”
Via U.S. Payrolls Rose Less-Than-Estimated 54,000 in May; Jobless Rate Is 9.1% – Bloomberg.