Dismal Jobs Report Reflects Economic Decline - AddisonPG - Open Salon Years ago, Americas economy was a job creation machine. Today its rusted, wheezing, and sputtering on the way to collapsing. In June, America added 80,000 jobs. U-3 unemployment remained at 8.2%. Based on 1980 calculations, it tops 22%. Most jobs created are part-time, low-pay temp ones. The nations manufacturing base largely exists offshore. So do many high-pay service jobs. Expectations were missed for the fourth straight month. Typically at this stage of the economic cycle, around a quarter million monthly jobs are created. Moreover, 36 months after an alleged recovery, U-3 unemployment is 3.6% below the pre-recession high. The household survey adjusted on a comparable basis to the headline payroll one showed 153,000 June job losses. It was the third decline in the past four months. In total, 666,000 jobs are gone. Average hours worked fell to 0.4% year-over year down from 4.3% in Q 1. It suggests downward GDP forecast revisions anywhere from 1.5% to contraction. As I said ,the private sector is doing fine..