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.
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
The latest job growth report—released Friday by the Bureau of Labor Statistics—would in normal times be an unalloyed piece of good news. The official unemployment rate fell to 7 percent (a five-year low), 203,000 new jobs were creat... Read Post
The November ADP national employment report, an important preview of Friday's jobs report, is out. Private companies added 215,000 new jobs in during the month, which was much stronger than the 170,000 expected by economists. Furthe... Read Post