The unemployment rate ticked up to 9.2%
on Friday. The economy has been sluggish
for two years since the recession formally
ended.
In past years,spending and rapid hiring
recovered deep downturns. However, the
damage the housing bust and subsequent
credit crisis did to household and business
balance sheets appears to have prevented
a rebound. We are not experiencing the
growth as we had hoped.
Amid the struggle to close budget gaps
government employment at the federal, state,
and local levels fell by 39,000 jobs.
