Tag Archives: jobs report

Encouraging Jobs Report

The recent jobs report shows that unemployment is down to 7.0 percent and that the economy grew by 203K jobs.  The most encouraging part of the report is that unemployment was down because of increased hiring, not because the labor force shrunk.  More people who wanted work had it rather than people giving up on finding work.  455K people joined the workforce in November.

203K jobs is steady (if not grand) improvement in hiring.  The Washington Post suggests that this report shows that the government shut down had little effect on the economy and that the Federal Reserve could consider pulling back its bond buying program to support economic recovery.  They also suggest that holiday sales will be 3 percent higher than last year – another sign of recovery.

Adding One To Ezra Klein’s 5 Worst Things About The Jobs Market

Ezra Klein from the Washington Post has a great analysis of today’s somewhat disappointing jobs report.

I’d like to add one point.  We need to create even more jobs to keep up with population growth.  Klein gets at this in his third point about weak job creation, but we need to remember that we aren’t just aiming at getting back to pre-recession job levels.  America is a growing country and getting back to pre-recession jobs levels in 2023 will mean that the country will still have high unemployment and numerous people out of the job market – we have to do better and create jobs faster.