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Thread: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Arch Enemy View Post
    Wait what Republican momentum?

    I know of an independent/Libertarian moment that argues against both Republicans and Democrats, but I don't think America wants to see the Old, Red Guard back in power.
    Independents didn't exactly want "Old Blue" in power, either. But look where we are? Any reasonably intelligent person knows that we only have two choices in this country.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Taylor View Post
    It's very much about Obama. It's the reason Obama is president.
    Only if the only thing you can see is winning and losing politically. For most of us, this is about the health of the countries economy, and we all benefit when the economy is in good health. Why do you right wingers hate the country so much you would rather we had a poor economy?

    Note: I used some sarcasm above.
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    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    So... any Democrats want to compare these numbers with Bush's "jobless recovery," and what Democrats were calling "the worst recovery since the Great Depression?"

    Or are we still too busy doing cartwheels?
    Last edited by Taylor; 04-02-10 at 01:05 PM.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    This job growth is an encouraging development. Such job growth will need to accelerate and be maintained if the nation's high unemployment rate is to begin a sustained descent toward a level closer to full employment. The handoff from the public sector's support of aggregate demand through substantial fiscal stimulus to the private sector in coming months will have risks, so the job growth numbers could prove volatile. Ultimately, the private sector will need to regain confidence that rising demand will be sustained. Only then will hiring pick up and continue at a rate necessary to materially reduce the nation's unemployment rate. Gimmicks e.g., tax cuts aimed at creating jobs, will do little. A sustained expansion of aggregate demand will do most to build and maintain private sector confidence.

    Although it took time for positive job creation to develop, it is not accurate to argue that the fiscal stimulus efforts delayed job creation. If mainstream economic principles are relevant, the fiscal stimulus mitigated the extent of the collapse in aggregate demand and prevented things from becoming worse than they would have been in the absence of such a stimulus.

    In its April 2009 World Economic Outlook, the International Monetary Fund (IMF) explained the merits of fiscal stimulus:

    In view of the extent of the downturn and the limits on monetary policy's effectiveness, fiscal policy must play a crucial part in providing short-term support to the global economy... [F]iscal policy can be particularly effective in shortening the duration of recessions, whereas the impact of monetary policy is reduced.

    Why then did the unemployment rate rise above the thresholds widely cited by proponents of the fiscal stimulus? Because the collapse in aggregate demand was even worse than had been expected. As the IMF accurately noted, "By any measure, this downturn represents by far the deepest global recession since the Great Depression."

    Beyond the transitional issues related to the withdrawal of the stimulus, specifically the timing and speed of the withdrawal, there remains the medium-term and beyond need for credible fiscal consolidation. To be credible, the strategy will need to consider revenue and spending. Moreover, politically difficult as it might be, a strategy for addressing the medium- to long-term imbalances in the nation's mandatory spending programs will be required for the fiscal consolidation program to be credible. The nation simply cannot grow its way out of its looming fiscal imbalances. Tax hikes (modest, if spending is put on a sustainable path), discretionary spending reductions, and mandatory spending reform will all be required for the nation to effectively address its medium- to long-term imbalances. Considering that the largest imbalances in mandatory spending are associated with health costs, the nation will need to focus on curbing excessive growth in national health expenditures. Such expenditures cannot grow at a multiple of GDP indefinitely. The most recent health legislation expanded coverage, but did not address that issue.

    To facilitate public fiscal consolidation efforts, the private sector will need to grow more competitive. The nation's chronic trade deficits are not the result of "unfair" trade terms. There are real competitiveness issues involved, and additional emergent ones. Failure to tackle competitiveness issues that lie at the heart of chronic trade imbalances will mitigate long-term growth in employment and incomes. Such an outcome would have an adverse impact on the nation's fiscal situation e.g., in the form of slower tax revenue growth. Households will also need to be more prudent about debt accumulation and more aggressive in increasing private saving.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Redress View Post
    Only if the only thing you can see is winning and losing politically. For most of us, this is about the health of the countries economy, and we all benefit when the economy is in good health.
    I see. You're "above" this political stuff.

    If all the "most of you" care about is the country's economy, then you won't mind us voting Democrats out of office. Quite frankly, I'm surprised you take issue with any of the comments being made about Obama.

    So long as the economy is in good health, eh?

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Taylor View Post
    So... any Democrats want to compare these numbers with Bush's "jobless recovery," and what Democrats were calling "the worst recovery since the Great Depression?"

    Or are we still too busy doing cartwheels?
    Why don't we face reality and compare it to the total meltdown of the economy under Bush, the disaster that led to these employment numbers making front page news?

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by WillRockwell View Post
    Why don't we face reality and compare it to the total meltdown of the economy under Bush, the disaster that led to these employment numbers making front page news?
    Why don't we stay on topic and discuss the recovery from said recession?

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Why don't we stay on topic and discuss the March jobs report which IMO was modestly positive.
    “Real environmentalists live in cities, and they visit what's left of the wilderness as gently and respectfully as possible.” — Donna Moulton, letter to the editor, Tucson Weekly, published on August 23, 2001

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    It takes a moment to fully sink in how bad our economy has been in the past two years: this report marks only “the second month of jobs growth since the recession began in December 2007.”¹
    “Real environmentalists live in cities, and they visit what's left of the wilderness as gently and respectfully as possible.” — Donna Moulton, letter to the editor, Tucson Weekly, published on August 23, 2001

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    March jobs report shows growth

    NEW YORK (CNNMoney.com) -- The U.S. economy gained more jobs in March than any other month in the last three years, according to a government report released Friday.

    The Labor Department said the economy gained 162,000 jobs in the month, compared to a revised reading of a 14,000 job loss in February. That makes March only the third month of gains since the recession began.

    Economists surveyed by Briefing.com had forecast a gain of 184,000 jobs. But despite missing forecasts, the March number was generally not seen as a disappointment by economists, because revisions in January and February readings added a combined 62,000 additional jobs.
    March jobs report shows employers hiring again - Apr. 2, 2010

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