The Obama administration keeps touting figures for "new" jobs. They never did spell out what makes a job "new". I'm thinking that every single hire is counted as a "new" job. In the same week they claimed 288,000 "new" jobs, they also announced 340,000 new claims for unemployment benefits, i.e. 340,000 people got laid off. First thing anyone does after getting laid off is go right down and file for unemployment. Put the two numbers together and we lost about 52,000 jobs last month. They don't say that on the evening TV news.
They do say that GNP growth has dropped to just about nothing. 0.1% is the number given, which is so low it might as well be zero.
Obama doesn't talk about that either. At least he isn't blaming it on George Bush any more.
No comments:
Post a Comment