Hiring has risen in the month of July but the unemployment rate has gone up. What does that mean? It means that there is more down sizing than hiring. It is an election year, so both parties are going to use these numbers to their advantage. Mitt Romney, of course, is going to use this information to say that the administration’s economic policies aren’t working.
I love how the President is blamed for Congress’ inability to do anything. The President will use these numbers to say that Congress needs to move on the Dream Act and other job creation bills, that the government needs to get involved more. What do these numbers say to me? They say that the economy still isn’t growing, and that more people have given up on finding work. Hopefully, those people are looking to better themselves with more education. We see there are sectors of the economy that are growing, but there aren’t people who can fill these positions.