More economic recovery:

[underlankers.livejournal.com]

http://www.bbc.co.uk/news/business-12648347

 

The US unemployment rate fell slightly to 8.9% in February, down from 9% the month before.

It is the third month in a row that the jobless rate has fallen, with February's figure marking a near two-year low.

Employers added 192,000 jobs last month, the US Labor Department said, above market expectations.

Paul O'Neill, former US Treasury Secretary, described the data as "very positive".

A Labor Department statement said that most job gains were in manufacturing, construction, business services and transport.

State and local government slashed 30,000 jobs, the most since November as budget cuts continue to bite.

The data showed that the jobless rate for adult men was 8.7%, for adult women 8%, and for teenagers 23.9%.

The unemployment rate has come down from 9.8% in November.

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I'll be the first to admit that this is not what the Obama Administration predicted or really wanted when they wanted unemployment to stay where it was when they were inaugurated. However looking at this, the unemployment figures appear to be showing more, and more effective, growth since the Administration's stimulus package has gone into effect. It makes me curious in fact whether or not a larger stimulus package would have had more effect. What do you guys think?

Comments

[gunslnger.livejournal.com]

We should have a balanced budget again in a few years and have paid off the debt within a few years of that.

That's hilarious. I'll believe it when I see it.

[anfalicious.livejournal.com]

Any particular reason you don't believe it? It was balanced before the GFC and was only unbalanced by stimulus spending, which is being phased out. We don't have the 'unfunded liabilities' of the US. It will take a little longer than it was supposed to, sure, but that's because we've had natural disasters this year that have caused almost as much damage as the GFC. Our budget deficit is only 6% of GDP and our public debt is only 22% of GDP. We have strong economic growth. The only reason I can think anyone would think we won't have a balanced budget and be able to pay off the debt inside of 10 years is they either a) think the whole world economic system is stuffed or b) some partisan political game of durr hurr labor can't manage the economy.

[gunslnger.livejournal.com]

Once a government starts down that road, it'll be hard to reverse it, that's why.