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.