I wonder why this might be? Could it be that Obamacare has made full-time workers much more expensive to employ?
Could it be also that the jobs market has not come back the way it should have (at least the way we are told that it should have) because markets were never allowed to clear back in 2008?
Regardless, the pistons still aren’t humming. Yet the Keynesians still hold to their faith convinced that just a bit (or a lot) more government priming will do the trick. Got to get that engine to spark. C’mon economy turn over! We can’t let the free market guys win. C’mon! Oh shoot, are those interest rates rising? Uh oh.
It would be fun to watch these guys make excuses and sweat it if it were not for the millions of people they are hurting with their policies.
(From The New York Post)
Labor also announced yesterday that the unemployment rate fell to 7.4 percent, from 7.6 percent, in July.
Great news, right?
Well, not really. The rate is only declining because people are giving up looking for a job and are no longer counted among the unemployed.
There were 988,000 workers too discouraged to look for a job in July, an increase of 16 percent from last July.