More Government Equals Fewer Jobs – Peter Schiff

(C4L) – With today’s unexpected decline in December payrolls, the cry for more job-related stimulus will grow even louder. But the sad truth is that any new stimulus or jobs bills will ultimately swell the ranks of the unemployed, thereby raising calls for an even bigger federal effort. If we are not careful, government regulations, subsidies, and spending, all designed to fight unemployment, could push the labor market into a death spiral.

The Recovery That Isn’t – Peter Schiff

For those market boosters who are prattling on about the possibility of a “jobless recovery,” I offer an invitation to join me for a breakfast of “fat-free bacon,” “eggless omelets,” and “no-carb bread.” As unappetizing as such a meal may sound, it would nevertheless offer more substance than the oxymoronic concept of an economic resurgence without job creation.

MSM: US companies axe 371,000 jobs in July

(Times) – American businesses cut 371,000 jobs from their workforces in July in a further sign that recovery in the labour market remains far off despite positive signs in other areas of the economy.

MSM: Job losses worst since 1974

WASHINGTON (Reuters) – U.S. employers axed 533,000 jobs from payrolls in November, the most in 34 years, as the year-old recession hammered the economy and hardened calls for dramatic government action to restore growth.

The Labor Department said Friday the unemployment rate hit 6.7 percent last month, the highest since 1993, which adds up to 10.3 million Americans out of work, 2 million more than the population of New York City.

US private sector shed 250,000 jobs in November: ADP

WASHINGTON (AFP) — The US private sector lost 250,000 jobs in November, the largest decline in six years, in a further indication of a tightening labor market amid recession, according to a private payrolls report Wednesday.

The job loss was again driven by the goods-producing sector, which posted its 24th consecutive monthly decline in November, the ADP National Employment Report said.

MSM: Unemployed Nation – America’s Shrinking Payroll

More Than 1 Million People Have Lost Their Jobs in the United States in 2008