PrintMay 10, 2011
A Sluggish Recovery for President Obama
The mainstream media did a heroic job of making the mixed jobs numbers on Friday look good. Then the experts pointed out that the 244,000 new jobs in the Bureau of Labor Statistics Establishment Survey were mostly a statistical artifact.If you look, as I do, at the BLS Household Survey, you see a downtick in Employment of 190,000 jobs and an uptick in Labor Force of 15,000. (That's why the Unemployment Rate went up to 9.0 percent.) Don't understand the numbers? Then here's a chart of US Employment since the start of 2008 to show you what is happening.The economy has added about one million jobs since the beginning of 2010. That means we need another six million jobs just to get back up to the level before the Great Recession started. That just ain't gonna happen by November 2012. Or November 2014, for that matter.What is going wrong with the Obama recovery, which Jay Cost shows is the worst recovery in the last 50 years? I will tell you...(Read Full Article)
