Saturday, September 3, 2011
Yesterday's jobs numbers
It's really starting to look like the country is not going to recover the millions of jobs lost during the recession any time soon. Yesterday's report from the BLS that payroll employment rose by exactly zero in August is particularly fitting because the Administration appears to have that many good ideas on how to stimulate job growth. The early word is that the President will propose more of the same policies that have worsened the mess that he inherited (yes, he inherited it, but he's done just about everything wrong in trying to end it, so now it's his mess): more stimulus of the wrong things (sorry, investments) and punting possible tax reform to the Congressional deficit committee. The delay of the disastrous EPA rules is a good sign that the President might actually be starting to see how government regulations can be harmful to growth. On the other hand, his nomination of Alan Krueger (reputed to be the architect of the worse-than-useless cash for clunkers program) as head of the Council of Economic Advisors cancels that out.