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Thursday, September 27, 2012

Report: U.S. economy added 386,000 more jobs in past year than we thought

U.S. economy added 386,000 more jobs in past year than we thought

We added even more private-sector jobs than that - and cut more government jobs that we thought as well. We are constantly told that when you cut the size of government, it frees things up in the private sector and the economy will soar. Well, we've cut about 600,000 public jobs over the past couple of years, and the public sector has been adding them - but the jobless rate is at least a percentage point higher than it otherwise would be had the government just remained the same size. Even given that, those who frequently talk about the need to cut government are complaining about the higher-than-necessary jobless rate. Why aren't they rejoicing instead?

Measuring Obama's job creation performance by Romney's metric

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