PrintManufacturing sector not recovering during Obama recovery
I wonder how many of those "saved or created" jobs from the stim bill ended up in the manufacturing sector?
Not too darn many:
The economic recovery is faltering, and Washington is running out of ways to get it back on track.
Two bright spots over the past few months -- manufacturing and job creation by private companies -- both slowed in May, according to new reports Wednesday. The data come amid other reports of falling home prices, declining auto sales, weaker consumer spending and a rising pace of layoffs.
Instead of accelerating, the U.S. economy is puttering along at a growth rate of 2 to 3 percent - barely enough to bring down joblessness slowly, if at all.
Sorry, but even that anemic growth rate of 2-3% is probably stretching it. Many economists are revising their estimates downward - below 2%.
The jobless numbers coming out later will probbably show little movement, except in the underlying number of those who are not even bothering to look for work anymore. Jobless claims did not decline as much as the so-called experts were saying they would - another sure sign that the only news about the eonomy for the foreseeable future will be bad news.
