Employment in February

OK folks, this am we received the key BLS monthly employment release, this one for Feb. It was not as soft as expected (frigid weather). The good news is that average job losses continue to shrink, mo to mo. The other two components we need to look at in today’s release are 1) the average work week which fell just a tad (0.2% to 33.1 hours vs the low of 33.0, 10/09) and 2) hourly earnings which rose 0.2% in February; earnings are now 2.2% above their year ago level. Weather was very bad during the survey week (where are the "warmers" when we need them?) which no doubt explains the lower hours - look for a rebound in March or April.

These numbers, while improved, certainly do not reflect vigor. True, this ‘ol economy of ours is sure giving it a shot. With JFK or Reagan here it would be so easy. The major hindrance, as we know is always true, is the far left. Prosperity and these extremists just don’t mix.

There are a heap of small business owners out there who are not extremists, but are registered Democrats nevertheless. Certainly they must look within for their problems.

Dodd, Frank, BO and other key Democrats - implicit at ground zero. But that was not enough to discourage the chatterers. Create a meltdown, blame it on Bush, and get elected. Too much.
Not being aware of the real-world implications of one’s party politics, yet charging ahead anyway and pulling the trigger makes it rough on everyone.

Robert Craven