On Friday, the U.S. Department of Labor reported that a net 163,000 jobs were created in July.  That number beat the meager expectations, but the report also says the official unemployment rate is up to 8.3 percent and 195,000 fewer people were working than there were the month before.  If seems contradictory, some 150,000 people left the labor force and are not counted in the official unemployment number.  Texas Rep. Kevin Brady is chairman of the Joint Economic Committee.  He says the numbers are better than the really weak figures we saw in May and June but show no sign of significant growth.  Brady also criticizes President Obama for having no new ideas to spur job growth and for bringing back his call for higher taxes on wealthier Americans.  Brady says business owners cite federal spending, a weak economy and burdensome regulations as the real reasons they are not hiring.  He also worries some that America may accept this sluggish economy as the “new normal”, but Brady says the American people will not accept Obama’s “You lose your job, I keep mine” job plan.

 

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