All eyes are on Friday’s employment report, with the focus apparently on whether the Obama administration can reach 200,000 a month in April. Our question is why? Why has creating 200,000 jobs become the litmus test of a successful jobs report?
Given the deep jobs deficit in which our economy finds itself, we need a lot more jobs than that. In the first 24 months of the average postwar recovery from recession, the economy created 147,000 payroll jobs on average.
Every time we update the projection chart of how many jobs have to be created by the end of Obama's now improbable second term, the number goes up. First it was 245,500 in April, then 250,000 in June, now it is 254,000: it seems to ... Read Post
Joe Biden, April 23, 2010: "All in all we're going to be creating somewhere between 100[,000] and 200,000 jobs next month, I predict," Biden said, according to a pool report, adding that he "got in trouble" for a job growth... Read Post