Our Views: Not enough, but more jobs

While it is good news that the economy continues to grow, the numbers “under the hood” of the latest jobs report are not that great.

The broad measures of unemployment, including those discouraged from seeking work, nudged down only slightly, although the official unemployment rate at 7.7 percent is the lowest since 2008.

Republican economist Douglas Holtz-Eakin called it a jobs report that is helpful but not promising.

“The good news is that the economy continues to be resilient despite head winds that include the fiscal cliff,” he said, referring to the threat of higher taxes and automatic budget cuts if Congress does not act on a budget deal by the end of the year.

“The bad news is that at best it reflects only growth at the rate of diminished expectations — not enough to provide strong hope to the millions who remain out of work,” Holtz-Eakin added.

The problem of long-term unemployment remains. This is the kind of report that suggests growth will be too slow for comfort for a while.

Comments

1) Comment by InPVille - 18/12/2012

@DMJ: "public sector employment has decreased by 500,000 workers since Obama took office. oops... -[**]- Your decreased numbers, if accurate, must come from state and local levels. The number of federal employees continues to increase. 2010 is the last year for which numbers are available: Federal Workforce in thousands: 2008(4206), 2009(4430), 2010(4443). http://www.opm.gov/feddata/HistoricalTables/TotalGovernmentSince1962.asp

2) Comment by DMJ - 18/12/2012

Yes, anything that any media outlets prints or says that certain people don't like is because of the great big, bad media bias. What a joke. And whatnow, public sector employment has decreased by 500,000 workers since Obama took office. oops...

3) Comment by jdk944 - 18/12/2012

Yep, The Advocate publishes the same "slanted'" figures coming from this administration and it's "in the pocket" mainstream media. How about giving us the WHOLE STORY ON THESE NUMBERS??? Like how a big part of the increase is because the base of those looking for work continues to reduce - meaing they have quit looking. Thus a smaller number to apply the figures. Oh and let's not forget the "seasonal" hirings that have inflated these latest numbers. Yes, once again you won't let "facts get in the way or your agenda".

4) Comment by Whatnow - 18/12/2012

Yeah, twinkie1cat, let's just gut the system with state workers. Let's just pay them all with that newly printed money. It's all part of the Democrat agenda. Spend, spend, spend...

5) Comment by twinkie1cat - 18/12/2012

If Jindal would quit firing state workers the unemployment in the state would go down drastically. But he wants it to be high so he can take the blame off himself. It's all part of the Republican agenda.

6) Comment by tradewinns - 18/12/2012

if we can get just a few ten thousands more people to drop out of the job market, we'll be in a great unemployment percentage again.