Sponsored Content
ę Even Keith Olbermann is Blasting the HuffPo for Hiring the DUI-Killing, 9/11-Truth-Peddling Donte' Stallworth as a, Get This, "National Security Fellow" | Main | Russia Arrests -- or Kidnaps -- Estonian Official Ľ
September 05, 2014

Despite Progressive Apologias, Yes, The August Jobs Report Was Bad, and It Does Confirm That This "Recovery" Is Woeful

First of all, apologies. There is a barn-burner argument going on in the coblogger email which I suppose will probably, in some form, make it to the blog.

It's about the pictures stolen from Jennifer Lawrence, and whether or not it's the Christian thing to harbor judgment against her for having taken them at all.

Meanwhile, we had another depressing jobs report which makes sense given that we're ina depression.

As Bob Stein explains below, the August jobs report, released this morning by the Bureau of Labor Statistics, was disappointing -- just 142,000 jobs were added, and the labor force shrunk slightly. This is not atrocious, but it's disappointing because the labor market had had a strong six months, with more than 200,000 added per month and the labor force holding steady. Bob also makes an interesting point about how unreliable August reports have been, and itís possible with revisions, which can easily be in the range of tens of thousands of jobs, that this report wonít look too bad at all.

But the news has still prompted a couple lame apologias from the liberal economic class....

The economy was going to start adding jobs again [that is, the prog apologists seem to be overlooking that any economy will eventually add jobs -- but we judge the strength of a recovery by how quickly it adds jobs, not that it merely adds jobs at a slack pace], and it hasn't done so very quickly at all. That chart (deployed to destroy the myth of the jobs-killing Obamacare by another Vox writer the other day) tells us nothing useful about the nature of this recovery, except that it has happened. For that one encouraging chart, I could come up with five others that, devoid of context, would make this look like basically no recovery at all -- wage growth, labor-force-participation rate, employment rate as the share of the population, median net worth, median income, etc.


digg this
posted by Ace at 01:28 PM

| Access Comments




Recent Comments
exdem13: "[i]El eli lama sabbachtani.[/i] Oh my LORD, tell P ..."

It's me donna: "783 He's holding up well, given that we're an hour ..."

micky: "744 Truck Monkey Report line forms back here TM ..."

Blanco Basura : "ONT is nood! ..."

runner: "Ola ! ..."

Hairpin Corner Concrete Truck Collision Take Me Now: "Good work though. Atta boy. ..."

Some Rat: "thank you ..."

OneEyedJack: "Don't just do something! Stand there! (orders ..."

Joe Mannix (Not a cop!): "8th call for action: ban "assault weapons" ..."

Blanco Basura : "Yay, ONT! ..."

Quarter Twenty : "Ha! Brandon! ..."

Joe Mannix (Not a cop!): "He's holding up well, given that we're an hour in. ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64