On Friday, the U.S. Department of Labor reported that a net 163,000 jobs
were created in July. That number beat the meager expectations, but the report also says the official unemployment rate is up to 8.3 percent and 195,000 fewer people were working than there were the month before. Some 150,000 people left the labor force and are not counted in the official unemployment number.
Rep. Kevin Brady, R-Texas, is chairman of the Joint Economic Committee. He says the numbers are better than the really weak figures in May and June but show no sign of significant growth.
“My worry is that this is the new normal, we’re so used to the Obama recovery, that this looks good by comparison,” Brady told WND.
Brady also criticizes President Obama for having no new ideas to spur job growth and for bringing back his call for higher taxes on wealthier Americans.
Brady says business owners cite federal spending, a weak economy and burdensome regulations as the real reasons they are not hiring.
“It’s the red tape, the talk of taxes, the president’s health-care law really holding this recovery back,” said Brady.