American Elephants

After His Very Worst Week, The Weakest Jobs Report Since Last October. by The Elephant's Child

The Worst Economic Recovery in History” trumpets the headline in the Wall Street Journal over a column by Edward Lazear, chairman of the President’s Council of Economic Advisers from 2006-2009. “Weak March jobs report could spell trouble for Obama’s reelection bid” says the headline from the Hill.

U.S. employers added just 120,000 net jobs last month— the smallest increase since last October. The U.S. economy hasn’t been below 8% since Obama took office in January 2009. Back in May 2007, unemployment was just 4.4%. Average hourly wages are up just 2.1% over last year, but inflation is up 2.9%. American workers are losing ground.  March was expected to yield another positive report, but job gains were almost 100,000 below expectations.

The broader U6 measure of unemployment which includes the discouraged and the part timers is still a sky high 14.5%. Everyone juggles the numbers and attaches their own meaning. The president regards it as another step in the recovery, if one that is a bit of a disappointment. But the U.S. needs to generate 262,000 jobs each month to get back to the breakeven point.

Obama says, on the campaign trail, that he knows there’s still work to be done, but those dastardly Republicans want to make tough choices about the deficit, and cut taxes. He wants to invest in education, and science and research. He wants to make sure that our air is clean and our water is clean, that we’re not poisoning our kids. See how dastardly the Republicans are?


3 Comments so far
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It must be remembered that The Wall Street Journal is now owned by a definitely Right-Oriented organization.

Having said that, let me remind whoever is interested that regardless of what any kind of media has to say, we have had 25 months of continuous Economic improvement under the policies of this administration and it has driven some Conservatives to distraction. They have even had to leave off criticizing The President’s policies and have gone back into their old trumpet about Morality in their utter desperation to have something to say to America.


Comment by americanliberaltimes

What economic improvement are you referring to? We have less people employed today than were employed in 2000. Lowest labor force participation rate in 40 years. Housing prices back to 1998 levels. Highest energy prices in history. More people in poverty and on food stamps ever. We have the highest annual deficit ever, highest debt ever, no plan to decrease. We have socialized medicine. Socialized the auto industry. Dodd Frank is killing bank lending. We have snubbed all of our allies. Egypt, libya, tunisia going the way of Iran. Losing Eastern Europe to Russians. Losing Asia to China. Chinese drilling off of our coast but we cannot.


Comment by Mike


Despite the WSJ being owned by the Murdoch empire, it’s only the editorial page of the WSJ that tilts right (and, that’s a Romney-esque Right). I assure you (from actual knowledge) that the WSJ’s reporters are likely >50% in the Obama camp, but, sure, that’s less than the 90% at most major dailies.

As for the wonderful economic policies that have resulted in 25 months of continued economic improvement, I have to ask you what are the measures you are using for that “improvement?” More Americans are unemployed than when he took office, fewer total Americans are even in the workforce, and economic growth is absolutely anemic.

No one is arguing that we are “technically” improving. The argument is that if the administration had done NOTHING, the economy would be improving at a much quicker pace.

The failure of Liberals to understand the effects of tax policy, and of increasing debt to over 100% of GDP, astounds. This country is headed to a worse-than-Greece like economic disaster. Actually, most Liberals, like Obama do understand the disastrous effects of their policies, but their policies are not intended to stimulate a growing economy, they are intended to provide more control of the economy for Liberals to pick winners and losers, usually from among their cronies.


Comment by Jay

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