62,000 jobs lost, off nearly half-million for year
When it comes to handling the economy, 32 percent prefer Democratic contender Barack Obama, while 28 percent want GOP rival John McCain, according to a recent AP-Yahoo News poll.
"Far too many Americans will spend this holiday out of work and struggling to provide for their families because of the failed policies of the last eight years," Obama said Thursday.
"Americans across this country are hurting and today's jobs numbers are just the latest indication," McCain said. "Washington can no longer abdicate its responsibility to act. Our focus must be clear: enact policies to create jobs today."
Other economic news revealed more weak spots.
— The number of newly laid off people signing up for unemployment insurance rose sharply last week. New applications jumped by 16,000 to 404,000, the highest level since late March.
— The nation's service sector — generally an engine for the economy — contracted in June. The Institute for Supply Management's index of the service sector fell to 48.2 in June from 51.7 in May. A reading below 50 signals activity is shrinking, while a reading above that suggests activity is expanding.
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Member Comments
Posted By: phiomalibumalibu @ 06/24/2008 2:45:15 PM
Comment: Main cause of the fall of consumer confidence and the high foreclosure rate is that most american companies hire Indians to do there technical work. For the last 10 years over a million east Indians have taken American Jobs....simple...math.
Posted By: WhenStarsTurnBlue @ 06/19/2008 2:38:38 PM
Comment: The 2006 election was a way to express disapproval for the way things were being handled in Iraq. The democrats said they would get us out of there. Two years later.....hey, the democrats are saying if we elect them, they'll get us out of Iraq! Sure, why not? It worked so well the first time, right?
Posted By: trimm25 @ 06/19/2008 12:35:46 PM
Comment: For one, Bush inherited a republican congress. Also lets not forget what gas cost when Bush took office with that republican congress. It still kills me we have die hard Bush supporters out there, this guy is going to go down as the worst president ever. It is going to probably take a decade for the next president to fix all of his mistakes. But mission accomplished, gas has more than tripled since he has been in office, all of his rich buddies are laughing all the way to the bank.