April 6, 2013

Four AP Reporters Make Excuses, All Unacceptable, for Weak March Jobs Report

After telling the world on Thursday that “Gone are the fears that the economy could fall into another recession,” it seems that the Associated Press’s Christopher Rugaber needed some help explaining away Friday’s weak jobs report from the government’s Bureau of Labor Statistics.

The AP had four reporters on Friday evening’s coverage, all seemingly in search of a viable excuse for another “unexpectedly” disappointing report: Rugaber, co-author Paul Wiseman, and contributors Jonathan Fahey and Joyce Rosenberg in New York. Several paragraphs from their report follow the jump (bolds and numbered tags are mine):

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IBD: After Almost Four Years of Pathetic Post-Recession Job Growth, Don’t Blame Sequester for Awful March

Filed under: Economy,Taxes & Government — Tom @ 9:15 am

In a Friday evening editorial at Investor’s Business Daily:

… Democrats were quick to blame the anemic March jobs number on the “sequester” spending cuts. If that were the case, what explains the previous four years of lousy job growth under Obama?

White House economic adviser Alan Krueger complained that “arbitrary and unnecessary cuts to government services will be a head wind in the months to come.”

… Sen. Majority Leader Harry Reid argued that “self-inflicted setbacks like the sequester” were behind the tepid jobs growth.

It didn’t take long for the Democrats’ amen chorus in the press to run with this spin.

Just one problem: There’s nothing unusual about this month’s jobs report, and there’s been no austerity.

From the start of the Obama “recovery” nearly four years ago, job growth has been week. In fact, job growth has averaged just 100,000 a month, and in 16 of the 45 months since June 2009, it’s been under 100,000.

Nor is the March drop in the labor force participation rate unusual. In fact, it had been steadily falling all along, as Obama’s anemic jobs recovery led millions to retire early, give up looking for work, or go on government disability programs.

By the end of last year, the labor force participation rate was down to 63.6% from 65.7% when the recovery started. …

given his out-of-control regulations, tax hikes on businesses and investment, and the looming catastrophe known as ObamaCare, it’s a wonder businesses are hiring at all.

In the 45 months since the recession officially ended in June 2009, the economy has added a seasonally adjusted 4.617 million jobs — 5.875 million sice the February 2010 trough, which came way later than it should have). In the first 45 months after the 1980s recession ended in November 1982, employment bottomed out after just one month later, while the economy added 10.791 million jobs.

Replicating the Reagan performance after adjusting for workforce size, the economy would have — and should have — created 15.8 million jobs since the recession ended. It’s 11 million jobs short of where it should be, and all we have to show for it is a mind-boggling $6.2 trillion growth in the national debt.

Saturday Off-Topic (Moderated) Open Thread (040613)

Filed under: Lucid Links — Tom @ 6:05 am

Rules are here. Possible comment fodder may follow later. Other topics are also fair game.

Positivity: John Paul II seen in Pope Francis, Vatican official reflects

Filed under: Positivity — Tom @ 6:01 am

From Rome:

Apr 2, 2013 / 10:53 am

On the eighth anniversary of Blessed John Paul II’s death, the Vatican official in charge of overseeing his canonization process says that people see some of him in Pope Francis.

“I see that people remember his words and his gestures, and I think that in many actions you can see similarities with Pope Francis,” Monsignor Slawomir Oder told CNA April 2.

“We can perceive that both are similar in their openness, in their simplicity in approaching people and in their prayer,” he said.

“Pope Francis invites each person to hope and to have the courage to embrace God in his life,” he added.

April 2 marks the eighth anniversary of Blessed John Paul II passing away, and he could be proclaimed a saint if a second miracle, currently under study, is proven. …

Go here for the rest of the story.