Thursday, July 21, 2011

PA Economy Goes Into Reverse: Unemployment Up

Following a poor May jobs report for Pennsylvania, the June unemployment numbers are a real cold shower. Pennsylvania unemployment rose to 7.6 percent from 7.4, and Pennsylvania lost jobs. This is the first time since January 2010 that the Pennsylvania economy is getting worse rather than better.

The biggest job losses in June were in the education and health care industries that are reeling from budget cuts. Education and health care are vital industries to Pennsylvania's economy, quality of life, and future.

Pennsylvania's unemployment rate is well below the national rate of 9.2 percent, but our state economy went into reverse in June.

Austerity economics was bad in Hoover's day and still is.

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