[Arab News] The US job market is gradually rebounding from a period of severe retrenchment, but still has a long way to go, US President Barack B.O. Obama's top economic adviser said.
"We're starting a recovery, but it's a deep hole," Austan Goolsbee, head of the White House Council of Economic Advisers, said.
"Even though (the unemployment rate) has come down significantly over the past four months, it's still too high," Goolsbee said.
The Labor Department reported the jobless rate fell for a fourth straight month, dipping to 8.8 percent in March, and the economy generated some 216,000 new jobs.
That's an improvement over February's 194,000, but still leaves 13.5 million Americans out of work.
Posted by: Fred ||
04/02/2011 00:00 ||
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#1
..but it's a deep hole
Which only gets deeper as you continue to spend without restraint and print more paper to cheapen the value of what monetary assets you may have. Quit digging deeper.
#4
And I wonder how many of these new jobs are those vacated by semi-forced early retirees.
There, fixed it for you gorb. Choice between 2 yrs. in Mexico City or early retirement. What would you choose at 59 with a hopefully sufficient nest egg?
#6
newc, they'll find the numbers they want. The number fairy will bring them just like they did this one. The arch conservative Gallup Poll showed 10.3% for March.
It's not who votes that counts, it's who counts the votes.
#7
People, particularly in the government, find what they want in numbers depending upon their agenda. Initial weekly unemployment claims have been in flatline for the past year. There have been up-and-down fluctuations but around a flatline. Initial unemployment claims is not a particularly good indicator for employment.
#9
Sing w/me "Happy days are here again" Sing!
"The skies are blue" Sing damn you sing "with cheer again"
I don't know anyone stateside who believes that the jobs picture is improving or inflation is under control.
The big lie no longer works domestically. Time for a foreign adventure.
Posted by: regular joe ||
04/02/2011 14:46 Comments ||
Top||
#10
I was telling a friend this morning that the organization charts of government now as well as the titles reminded me of the convoluted monstrosities of the last days of the Soviet Union. Now the reports coming from this administration are reminiscent of the 5year plan reports, and the exhortations for the workers to double their efforts, that all was well, and things are fine, while we face $4+ gas, real unemployment approaching 20%, housing prices continuing to fall, massive debt, massive government incursion, over regulation, emergent inflation, currency erosion, foreign policy ineptitude. Sadly, for many Americans, they have forgotten who and what we are, and they just accept this as all that can be done is being done.
And the MSM just plays along with their anointed leaders, ignoring the facts on the ground. Increasingly, I have the feeling that this doesn't end well, and that the unplesantness is closer than I ever imagined.
#3
All that to appease the bond holders who so foolishly lent the Irish all that money when the credit was fast and foolish. An Irish default seems a far better choice for that country.
#4
And by the way, what will happen when US states cannot pay their contractual obligations to the pension payouts for their retired employees? The "Contract Clause" in the US Constitution includes a bar on any state passing a "Law impairing the Obligation of Contracts."
Think a federal court could order a state to impose a property tax to meet its contractual obligations? IANAL.
#5
Federal judges have long been ordering States to appropriate money to spend on the judges whims, usually public education. The set daily fines to force the legislatures to act immediately, as well as appointing "special masters" to oversee how the judges' dictates are carried out.
#7
AH, in an 80s infamous case of the Kansas (Missouri) City School District, a federal judge imposed a new tax on the citizens of Missouri to pay for his program of school improvement justifying the tyranny by finding the system had discriminated against the usual 'protected group' based upon outcome. It was finally overturned by SCOTUS, who however didn't directly strike it down for its abuse of power but in their terms, because he had failed to exhaust all other alternatives. None the less it was collected and allocated by his fiat. When it was finally overturned the pols in Missouri used it as an excuse to keep it in place [why should we be surprised]. All the money didn't stop the school system from decertification in the 90s. info
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