Last week I blogged about some impressive
job growth numbers for May. Now we are finding out that not only were those
numbers inflated, but the month of June was downright disastrous for job
growth. I don’t like using the word disastrous, but that is how many news outlets
are describing the situation.
According to the
New York
Times, only 18,000 nonfarm payroll jobs were created in the month of June. The
paper also said that in May, only 25,000 jobs were created, this is quite a
dramatic difference in what some in the media were reporting. The article I
referenced in my blog from last week reported on numbers from Automatic
Processing Data. In that article, ADP found 157,000 new private-sector jobs from
May to June. But this is not the story that is coming from the Department of
Labor. It’s strange how quick a story can turn around. One day, the new is
touting economic success, and then next day the outlook is
grim.
I suppose that we can report on numbers every day, but
real economic security is an individual thing. Some companies may be struggling
while others are persevering in this down economy. If you are one of those
companies that are staying profitable despite all the bad news, let us know.
We’d like to hear that some of our readers are overcoming the odds.