“The government said it would cover legal costs if contractors are forced to slash their payrolls because of the looming $109 billion in automatic cuts next year and are alleged to have violated the WARN Act.”
“Republicans said the spending authorized in the bill violated limits that Congress agreed to last year. Democrats fell two votes shy of the 60-vote majority needed to waive the objection, forcing the legislation back to committee.”
“The hiring rate, however, was steady at 3.2 percent in July. In July, the drop in job openings was spread across manufacturing, health care and business services. Job openings increased in the public sector.”
“Coming less than 12 hours after the president accepted his party’s nomination for a second term, the lackluster report could wipe out or diminish any traditional bounce in the polls he might have gotten from the festive, well-choreographed three-day Democratic National Convention.”
The statements “August Jobs Report raises questions about the need for more economic aid from the Federal Reserve” and “The Federal Reserve is on the brink of pumping money into the U.S. Economy in reaction to the August Jobs Report” couldn’t be any more dissimilar.
“The report also said that 41,000 fewer jobs were created in July and June than first estimated. The revisions mean that employers have added just 139,000 jobs a month since the beginning of the year, below last year’s average of 153,000.”
“Since 1961, he said, 24 million private-sector jobs were added during the 28 years that Republicans held the White House. But when Democrats were president, that figure almost doubled — 42 million private-sector jobs created over 24 years.”
“The Greek Statistical Authority said the number of people out of work in June rose by 34,000 to more than 1.2 million. The jobless rate was up from 23.5 percent in May and 17.2 percent the previous year.”