Saturday, July 16, 2011

Manufacturing Stagnet in June Due to Low Auto Sales.

Could it be that up to 20% are out of work?
Also, it may be that some manufacturers are moving out of US.
An excerpt from the report.
Still, the economy is growing at too weak a pace to drive down the high unemployment rate, which rose to 9.2 percent in June. Most economists forecast that growth was roughly 2 percent in the first half of the year.
The economy would need to grow 5 percent for a whole year to bring down the unemployment rate by one percentage point. Economic growth of just 3 percent a year would hold the unemployment steady and keep up with population growth.
Mr. President: And you want to raise taxes.

More to read on the report Chicago-Sun Times by AP.

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