Worst Economy Since Hoover Update

AP News Alert:

WASHINGTON (AP) The Labor Department says employers added 121,000 jobs in June; the unemployment rate held steady at 4.6 percent.

Oh, the despair! I have no idea how the Chimperor sleeps at night.

UPDATE: As usual, I blame Bush...

UPDATE 2: The facts:

Republican stewardship of the U.S. economy has resulted in 5.4 million new jobs since August 2003, 34 consecutive months of sustained job creation, and a low 4.6 percent unemployment rate.

GDP growth for the first quarter was 5.6 percent - even stronger than expected and the fastest growth in two-and-half years.

Because of surging tax revenues, the Treasury Department now projects that President Bush's objective of cutting the deficit in half by 2009 will be met and exceeded ahead of schedule.

And when the liberals start moaning about wages, feel free to point to this Bloomberg piece:

"The U.S. economy created 121,000 jobs in June, enough to keep the unemployment rate at a five-year low and create pressure for higher pay. Hourly wages rose more than expected."

Emphasis added.