The Chart compares the results of the Obama strategy of massive government borrowing, spending and intervention in the private sector with the results of the Reagan approach of deregulation, lower income tax rates and greater liberty. Employers added ZERO new jobs in August. The statistics for June and July were revised, showing 58,000 fewer jobs […]
The Labor Department posted a grim jobs report for June, emphasizing America’s continuing economic misery. Employers added an anemic 18,000 jobs in June. The May number was revised downward from 54,000 to 25,000 additional jobs. The unemployment rate ticked up to from 9.1% to 9.2% If the 2011 rate of job growth continues, it will […]
The Labor Department published new small business statistics last week. Due to waves of new regulation, Expensive new employer mandates in ObamaCare, and continuous threats of tax increases on entrepreneurs and investors there are were fewer new businesses in 2010 than at any time since the government began counting them in 1993.
If Private Sector Job creation had been Obama’s original goal the Reagan Administration experience provided the formula to achieve that goal. The Labor Department’s monthly jobs report for May showed private sector employers created 83,000 jobs in May. Unfortunately, state and local governments cut 29,000 employees so the net job gain was only 54,000. This […]
The monthly Jobs report released March 4 offers some hope that the worst recession misery may be behind us. Employers added 192,000 jobs in February, about double the average gain over the preceding twelve months. The unemployment rate ticked down from 9.0% to 8.9%. Establishment media gleefully reported “good news for the Obama White […]
We’re told by the political-media establishment that President Obama’s massive spending and debt increases, while not creating the millions of new jobs that were promised, did prevent even more job losses. We’re told that spending cuts now would hurt the “fragile recovery,” driving unemployment even higher. To test the theory that a cut in spending […]
The Labor Department published its December jobs report Friday. Presidents Reagan and Obama both inherited severe recessions. But they chose opposite strategies in response. The chart compares employment losses and gains during and after those two worst recessions since the Great Depression. Facts from the January jobs report: Employers created 36,000 new jobs in January, […]
Another lackluster monthly jobs report was published Friday morning. In October: The unemployment rate was unchanged at 9.6%. Private sector employment grew by 159,000 jobs, above average for this year, but far below average of previous recoveries. If the 2010 average rate of private sector job growth continues, it will take 66 more months to […]
Austin Goolsbee, Chairman of the White House Council of Economic Advisers appears in another, white board video at the White House web site, this time talking down to us about jobs. (Commentary on his first video is here.) The purpose of Goolsbee’s presentation is to persuade us that the failure of the Obama stimulus to […]
It appears that voters are about to repudiate the Obama agenda and Democrats will likely lose control of the House and maybe the Senate as well. Speaking to a small audience of wealthy donors in Massachusetts the President called forth standard leftist/progressive doctrine to explain why his party will suffer losses on November 2: And […]
