Friday, July 6, 2012

Jobs Reports

The latest job reports has come in, and it doesn't bode well for the president.  80,000 jobs were added last month. this is below the 95,000 estimate of economists, which should further prove that economists really can't predict anything outside of general trends, and continues the anemic job growth of the second financial quarter for the year.  It's hard to say what a good job growth number should be. I have heard some say 90,000 month is desirable, though I have no source for that, the times says Obama needs 150,000 jobs a month average to ensure his reelection. And Zero hedge says that number is even higher, at 261,000 jobs a month, if the US wants to return to pre-depression levels of employment by his second term.

I hate to say I have no opinion myself on what the job growth rate number should be as I haven't read up enough on it to make any sort of informed opinion. Something I will endeavor to change in the near future. What can be said is that the numbers seen so far are not good for the president, or for us for that matter. 1 to 2% economic growth is pitiful, 3% should be the average, and there is no reason that we couldn't get to 4% given how our government has mismanaged the economy over the last decade and a half.

No comments:

Post a Comment

Disagreements and countervailing views are welcome, however, comments will be deleted if:

-They have emoticons.
-If it is obvious that you have not read the post.
-Obvious Spam, and it takes me about a quarter second to determine if it is spam since you all write your comments the same way.

About Me

My Photo
Seattle resident whose real name is Kevin Daniels. This blog covers the following topics, libertarian philosophy, realpolitik, western culture, history and the pursuit of truth from the perspective of a libertarian traditionalist.