As us college students finish up our spring semesters and are all looking forward to a relaxing summer away from work, it looks like Congress’ summer will be anything but relaxing.
For the third straight month, the number of citizens looking for employment in the US has risen as hiring slows. More people are dropping out of the work force and have given up on the job hunt. President Barack Obama has urged Congress to use “common sense tactics” to try and correct the dip in employment numbers over the past few months.
Since this is an election year, more attention is being paid to the economy than ever and it seems to most political analysts that how Obama handles this drop in employment numbers could be the difference between reelection and eviction. Both the Obama camp and the Romney camp seem to be trying their best to spin the news in favor of their respective parties.
The latest news on the job market seems to be the fact that “intensifying fears that the U.S. recovery is losing momentum.” Coupled with the fact that employers have cut back on hiring, Wall St. just posted its worst week of 2012. This may be a sign of things to come in the next few months
Should we be worried about these reports? Is the United States’ recovery effort slowing down? What should be done about the lack of hirings?