Concerns about the stalled U.S. economic recovery continue to grow.

• Last week, state unemployment aid claims increased unexpectedly, which may indicate that the economic recovery is stalling.
• Although the number of layoffs has decreased in the past year, businesses are hesitant to hire.
• New jobless claims rose to the highest level since the beginning of March.
• Obama’s approval ratings have plummeted due to concerns about the economic recovery.

Facts and Figures

• Claims for state unemployment benefits rose 13,000 last month.
• Employers announced 39,358 job cuts in June, up 1.4% from May.
• Private employers added just 13,000 jobs in May.
• Announced layoffs hit a 4-year low in April.

Best Quote

“It’s looking more and more like the job market is treading water. Layoffs are down from 2009, but hiring hasn’t really picked up and this is disappointing. There is a lot of uncertainty on the hiring side that’s causing things to remain sluggish. In order for the recovery to give people confidence it needs to cut across different sectors of the economy.” – Stephen Bronars, Senior Economist at Welch Consulting

Tags: economic recovery, economy, jobs, layoffs, stalled economy, unemployment