U.S Labor Department published the employment report of 2010 and though the report says that unemployment rate has lowered to 9.5% from 9.7%, this happened as 6,50,000 people have been removed from the labor force. These people have entirely given up looking for jobs.
As per the June employment report, there was a net loss of 1,25,000 jobs and most these were temporary Census jobs that were created in May. The private sector only created about 83,000 jobs and half of those jobs belong to the vacation industry.
The employment report also says that
As per the ADP payroll report only 13,000 jobs have been created mostly by large corporation. Mid-level companies only created 3,000 new jobs and small businesses which have been vital in creating new jobs in the
Overall, the condition is not so bright and this would be a big blow to the Obama administration.