Misplaces “My” Jobs Bill
March 12, 2012
yesterday from the Bureau of Labor Statistics that unemployment
unchanged and that 227,000 jobs were created in February shows that the
Obama-induced stimulus slide in the economy has slowed, it also
significant bad news for the president.
labor participation rates edged back up, the number of people without
edged up a bit too from 12.758 million to 12.806 in the last month. And
the 227,000 jobs created for January is better than less-than-200,000
we have come to expect, much of the gain is in temporary employment,
perhaps, at best a bottom for labor.
it’s not signaling most certainly is a robust recovery.
As our own
Mike Shedlock points out, employment in 2012 is roughly the same as it
in 2001. In essence, Obama has compressed a lost decade into just three
Additionally, the BLS already is making significant downward revisions
employment for new business estimates they made in the January report via the birth/death model
and other seasonal
adjustments , according to Shedlock.
hanky-pankery isn’t just confined to birth/death numbers. As John
the New York Post reported early this week:
as a single example, Labor’s report in early February. It showed that
new jobs were created in January.
problem was that the number wasn’t true. The pure, undoctored, not
adjusted figure showed there was really a loss of 2.689 million jobs.
always a loss of jobs after the Christmas season. And any professional
financial industry who doesn’t know that needs to get into another line
reported before, the 2.689 million job loss turned into a gain of
because Labor’s seasonal adjustment programs expected the job losses to
bigger. The warm winter weather probably kept some people from being
put out of
work, and this threw off Washington’s calculations.
another brief reminder: We’ve been here before with the Obama economy-
last year- and it won’t take much- think rising gas prices, Israeli air
for the economy to go back into the tank.
count me as one of the people who thinks the employment report is
that’s because Obama jettisoned his business-friendly chief-of-staff,
Daley, in favor of the more radical, whacko-wing of the White House who
determined to wage a class warfare campaign around spending a ton more
longer economic conditions remain stable, yet, essentially weak, the
likely it is that Americans are going to reject Obama’s massive
programs and class warfare rhetoric, without which, he’d have an
bereft of any ideas at all.
MY Jobs Bill!
too long ago that the employment crisis was so grave that Chicago’s
Rep. Jesse Jackson Jr. was suggesting the president suspend the
Perdue (Democrat) was suggesting that we suspend elections to address
employment, thereby ensuring that she wouldn’t get to run for
year. Both were foolish arguments back then and both appear even
light of events.
crisis that both progressives were concerned with wasn’t jobs; it’s the
created by six years of failed policies- the possibility of failed
about the size of it for Obama too.
too long ago that the president was touring the country foolishly
that Congress pass his pork-spending bill he called “My Jobs Bill 2.0” before letting Congress
even read it. “Pass
my jobs bill now,” said the president before he had even delivered a
copy of it
to Congress- or wrote it.
love me, you’ve got to help me pass this bill,” said Obama as he kicked
desperation reelection tour back in September.
has stopped sliding backward and has added jobs since, primarily
Republican-controlled Congress has gotten the president to stop
with the economy. Congress has gotten tough with out-of-control
like the MACT Act and Dodd-Frank and the economy has started to its
meantime, Obama has somehow misplaced the campaign rhetoric supporting
Bill” along with “My Foolish Budget” and “My Invisible Energy Policy.”
he’s taken to campaigning about income inequality and tax increases.
take my chances on those arguments at time when people would be happy
any rising income, any lower spending and any affordable energy no
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