We got another statistic today in the seemingly endless stream of bad jobs news. Initial unemployment claims were 428,000 last week. This is a bad number, too high for there to be any reduction in the unemployment rate. With the number remaining above 400,000 for three months and not even a trend showing a reduction in the number, the outlook for jobs is getting bleak.
It would be nice to think that these numbers would spur the president into realizing that his economic policies to date have not worked. Yesterday's press conference makes clear that he is not even considering adjusting his policies. That is a sad thing for the country. My guess is that in November 2012, it will be a sad thing for Obama.
No comments:
Post a Comment