June Jobs Report

[The Vorlon]

Pretty bad, don't think there was a single shred of good news in the entire report.

President Michele Bachmann.... what do ya think?

But seriously....

The lack of a budget deal is an issue... businesses KNOW with metaphysical certainty the US has to do something, but until that something takes form they will, quite predictable, sit on the
sidelines.....

I am reminded of a quote from Winston Churchill:

"The Americans will eventually do the right thing... after first having exhausted all other available options....."

[The Vorlon]

Blaming the June job numbers on the debt ceiling issue is largely bogus, since practically no one thought in June that the debt ceiling wouldn't be raised.  It might have a noticeable effect on the July numbers depending on how close to the deadline they get. The increase in energy prices and shrinking government payrolls are the major factors for June.

I think the general economic mess regarding the deficit is a big issue actually.

at 11% of GDP they have to do someting fairly soon.... it's not knowing what the "something" is that is causing a lot of uncertainty.

July it just got worse as the debt limit issue came up hard in people's faces, but the debt ceiling is just the current crisis associated with long term structural deficit.