Jan

The Government Against the Economy

The Obama recovery continues…

Nonfarm payrolls fell by a seasonally adjusted 85,000 in December following a revised 4,000 gain in November. During 2009, payrolls fell by 4.2 million.

Unemployment, they report, miraculously stays at 10%. Yes, well when you do not include discouraged workers in the unemployment statistics, you could theoretically have 50% of the population out of work and still only a 10% “rate.”

Furthermore, they report

Details of the report were generally weak, with few signs of further improvement in labor conditions. One bright spot: temporary-help jobs rose by 46,500, a leading indicator of permanent employment.

This is because every week brings a new government intervention, and there is, as a consequence, a lack of long range business planning. Of course, temporary workers benefit the Democrat Party, as they are not provided health insurance but are still not feelings the effects of true unemployment.

December was supposed to be the month where we began adding more jobs. The trajectory of the labor market is nothing short of awful. Despite TARP, Stimulus, a plethora of other government spending programs, and constant reassurances that things are really improving, the signs of a recovery are few and far between.

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