Nonfarm payrolls fell less than expected in May but the unemployment rate surged to a 26-year high of 9.4% last month, igniting criticism that President Barack Obama's recently-passed stimulus package is not doing enough to alleviate growing unemployment lines.
The Roadmap to Recovery as it is called is designed to save or create 600,000 jobs this summer, including 125,000 jobs for teenagers. Many of these positions are in education, health services, law enforcement, and infrastructure.
Republicans were quick to express skepticism, noting that the projections appear to be rosy. From my vantage point, the stimulus spending is far too narrow. Let's face it, if you are over 20 years old and not in construction, law enforcement or health care, the extra dollars won't be very helpful.
Monday, June 8, 2009
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