Even more impressive for January in that the number of people who were looking for employment found work. Jobs created this month (around 250,000) was slightly higher than December – the unemployment rate stayed same (8.3%) presumably because so many new workers entered and/or re-entered the labor force. (This is the issue over which the debate/difference of opinion is greatest). The implications are also important for the US election as at least for the moment President Obama has both the “headline” numbers and the rhetorical edge over his Republican opponents – particularly Mitt Romney who has chirped on Obama’s “inexperience” in creating jobs. Fact that so many people came back to the labor force is perhaps the most encouraging. However, naysayers point out that the “labor participation rate” – that is % of people actually working/seeking work is at lowest levels since the early and mid-1980’s. In other words, overall, people are still discouraged from seeking work. Obama Administration argues that there is a statistical adjustment made at end of 2011 that accounts for apparent drop in the labor participation rate. Global perspective still remains more cloudy or at least less sunny! The Eurozone crisis is not over, but as critically globe needs to create 600 million jobs over next decade. See Film Report on“Global Employment” from ILO (international Labor Organization) - diplomaticallyincorrect.org/films/movie/global-employment/29808 The debate is still one based upon perception as to whether glass is half full or maybe still half empty. Nonetheless, a few more drops of jobs and optimism should be recognized on the half-full side of the debate (even if Republican politicians may be at unease to give President Obama credit or recognition for a rising trend). "us-economy-better-news-but-more-for-entrepreneurs-than-employees-by-ambassador-mo". Read the two sides of the glass half full or half empty Argument from beginning of January 2012 re last (December 2011) job report: Glass Half-full - “US Economy & Obama on Rebound, Again?” - diplomaticallyincorrect.org/films/blog_post/us-economy-obama-on-rebound-again-by-ambassador-mo/43431. Glass Half Empty - “Employment Report Not as Good as it Looks” (Incorporating analysis of Daniel J. Mitchell from Cato Institute site) - diplomaticallyincorrect.org/films/blog_post/counterclaim-employment-is-not-as-good-as-it-looks-by-ambassador-mo/43434 By Ambassador Muhamed Sacirbey – Twitter @MuhamedSacirbey Facebook – Become a Fan at “Diplomatically Incorrect” Twitter – Follow us at DiplomaticallyX “International Financial Crisis” Channel - diplomaticallyincorrect.org/c/international-financial-crisis
Another Positive US Jobs Report?
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