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View Diary: Just 169,000 jobs added in August. June and July revised downward. Unemployment rate at 7.3% (45 comments)

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  •  News Still Positive (0+ / 0-)

    This is still relatively good news. With all of the obstruction in Washington by Repubs and outright meanspiritedness in red states, it's a wonder that the economy is doing as well as it is. Instead of lamenting the "stagnant" jobs picture, we should redouble our efforts to elect a Dem majority in the House and more Dems with spines in the Senate in 2014. If we get majorities in both the House and the Senate, we'd get a farm bill, infrastructure spending, transportation bill, etc. Just think of the all of the stimulus that would create jobs and expand economic output. When Rethugs are in power, they fully understand Keynesian economics but when Dems are in power, it becomes government overreach. Just for slaps and giggles, go back and compare government spending under Carter, Reagan, Bush I, Clinton, Bush II, and Obama. You'll notice that government spending expands under Repubs but is stagnant or shrinks under Dems (you'll also notice that deficits grow under Reagan, Bush I&II, and shrink under Carter, Clinton, and Obama!).

    One unreported detail (at least I haven't seen it yet) is that government hiring is back! I believe this is the first month since the census hiring a few years ago, that public sector hiring is positive. This is a good sign because it could mean that states and local government revenue is up so they can start hiring again. Just remember, government layoffs have accounted for a bit over a full half percentage of the unemployment rate!

    •  You mean this second sentence in my diary?... (1+ / 0-)
      Recommended by:
      Eric Nelson
      Governments at all levels added 17,000 workers for an overall private-public sector gain of 169,000.
      That's certainly better news than layoffs.

      But, as the Economic Policy Institute points out, we've lost 716,000 public sector jobs and we didn't gain the 683,000 needed to keep up with population growth since June 2009.

      Don't tell me what you believe, show me what you do and I will tell you what you believe.

      by Meteor Blades on Fri Sep 06, 2013 at 01:08:44 PM PDT

      [ Parent ]

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