Monday, December 7, 2009

The Economy Is...Not So Good, Actually

Unemployment at 10%.
Down a bit from 10.2%.
Unfortuntely, those who study this kind of stuff aren't nearly as thrilled as the White House with these numbers.
The decrease in unemployment is primarily from a few changes:
***Temporary, holiday employment (not a bad thing--it's economically good that stores and other businesses need temporary help--but this does skew the numbers), http://www.marklevinshow.com/goout.asp?u=http://www.economicpolicyjournal.com/2009/12/gains-in-temporary-help-flattens-out.html
***About 98,000 workers have left the labor force--mostly teen-agers. They have given up on finding a job. Thus, these numbers are no longer included in the equation.
***Census hirings--it's that time again--have inflated hiring numbers. But this is just a temporary blip on the economic scene, and not a lasting boost to unemployment. http://www.marklevinshow.com/goout.asp?u=http://online.wsj.com/article/SB125876514545758393.html
The problem is, just as President Obama admits, the lack of new jobs. New jobs just aren't being created. Mr. Obama also admits that he doesn't know how to fix this problem. That's why he held a forum this past Thursday on the problem.
He just forgot to invite those most involved in small businesses, which are the source of most of the employment in the United States.
What is the problem? Well, no one's investing in business. Why would any businessman invest in any business when the federal government can just go in and take over business, a la General Motors, and not pay the investors their due, by law?
http://www.heritage.org/Research/Economy/wm2718.cfm

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