Temple U. Business Expert Sees Weakness In Latest Jobs Number

PHILADELPHIA (CBS) – There was a bit of hopeful news on the unemployment front today, as the nation’s jobless rate dipped to 9.1 percent for the most recent month.

Employers added 117,000 jobs last month (see related story) — more than expected, but not good enough according to Gary Witt (below right), assistant professor of finance and statistics at Temple University.

witt gary temple Temple U. Business Expert Sees Weakness In Latest Jobs Number

(Dr. Gary Witt, file photo. Credit: Temple Univ.)

“Recessions from the past would be ended by strong recoveries with employment numbers of two, three, four hundred thousand job gains per month,” he notes, “and here we’re seeing about one hundred thousand.”

He says there are no quick fixes to the high unemployment numbers in this country, and adds that changes in the tax code would help down the road.

“We have to look at some longer-term structural changes to encourage job growth, but it’s not going to be quick — and it won’t be easy, politically,” Prof. Witt says.

The latest statewide unemployment figures for Pennsylvania and New Jersey will be released August 18th.

Reported by Lynne Adkins, KYW Newsradio 1060

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  • Guess Who

    Meanwhile, we are giving out 1.1 million green cards every year and refusing to deport enemy invaders.

  • BD

    Everyone says the same thing yet they offer no solution.

    • Hater

      There are many simple solutions. The repubs won’t fix the economy now because the pompous azz would take the credit and win re-election. Better to rough it out for another year or so than completely destroy America with four more years of ignorance and incompetence. Oh yeah, how about that S&P downgrade? Another ” historic” achievement for obama.

  • Hater

    IT’S OBAMA’S FAULT! Laser focus, stimulus, bailouts, green and shovel ready jobs. Nothing but bull. Enough already. Vote this clueless moron out in 2012. ANYONE but obama.

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