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Posted October 10, 2012 by

Despite GOP and Fox News Claims to Contrary, 7.8% Unemployment is Real

China GormanFirst it was Fox News. Then it was former CEO of General Electric Jack Welch. Then it was former and current windbag Donald Trump. I was disappointed but hardly surprised when those conspiracy theorists and die hard Republican supporters accused the Obama Administration and Bureau of Labor Statistics of falsifying last Friday’s employment reports. Sometimes the truth hurts, even when the truth is that almost 900,000 more Americans are working now than a month ago and that fact should be celebrated. But I was surprised to see someone that I have a lot of respect for — former Chief Operating Officer of the Society for Human Resource Management China Gorman — join the naysayers. Say it ain’t so, China. Say it ain’t so.

Without producing a shred of any evidence — even questionable evidence — to the contrary, conspiracy theorists and GOP supporters across the conservative media outlets have slandered the ethics of the non-political appointee economists who compile and publish the monthly jobs reports for the Bureau of Labor Statistics. These conspiracy theorists were apparently disappointed to learn that almost 900,000 more Americans are working today than a month ago and that more Americans are now working than were when President Obama took office. That disappointment — thinly veiled by many of them — is sickening. That almost 900,000 more Americans are working than a month ago and more Americans are working than when Obama took office undercuts their argument that only Governor Mitt Romney and Congressman Paul Ryan can right the economy and the job market and that they will do so through the austerity measures which have devastated our state and local governments as well as the governments in Europe. (more…)

Posted February 10, 2012 by

Economic Indicators Indicate Job Market About to Boom

The economy still has a long, long way to go before we will recover all of the jobs lost during the recession but the past few months are enough to convince all but the most irrational skeptic that we’re moving in the correct direction. Slowly, but better.

But those who are excited about the economy adding a couple of hundred thousand jobs per month need to keep in mind that if we continue to add jobs at that rate then it will take a decade to make up all for all the jobs lost toward the end of George W. Bush’s presidency as well as at the beginning of Barack Obama’s as the job losses were so monumental (750,000 some months) and the nation’s population has grown since the recession started in 2007. Looking back at job growth in the 1980’s or latter part of the 1990’s, we see that job growth of 250,000 per month is relatively weak. To actually increase the number of jobs we have in real terms, we need to start seeing monthly net jobs increase by at least 300,000 and even 400,000. Unlikely? Hardly. (more…)