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Turning the Corner

Posted on Apr 2, 2010
AP / M. Spencer Green

Obama in 2008.

An improving U.S. labor market has convinced President Obama that the domestic economy is “beginning to turn the corner,” though he cautions that a sustained employment boom will take time.

The U.S. in recent weeks has created jobs, rather than shed them, according to a government report that outlined growth of non-farm payrolls in March. —JCL


President Barack Obama hailed new signs of an improving U.S. labor market on Friday as proof that “we are beginning to turn the corner” but warned it would still take time to achieve sustained job growth.

Seeking to maintain momentum after lawmakers approved his cornerstone healthcare overhaul, Obama shifted focus to tackling high unemployment, a problem threatening to damage his Democratic Party’s prospects in November’s pivotal congressional elections.

Obama spoke after a closely watched government employment report showed that non-farm payrolls grew in March, adding 162,000 jobs, the strongest signal yet that the economic recovery is moving onto a more solid footing.

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By bEHOLD_tHE_mATRIX, April 2, 2010 at 9:40 pm Link to this comment
(Unregistered commenter)

All icing and no cake.  We’ve been fed meaningless
economic indicators on inflation, employment, etc. for
many, many years.  Hedge fund and currency traders are
the manipulators and high-cotton-walkers these days. 
The ‘system’ reeks and the band aids keep falling off
and the sores keep oozing.  America is dying of greed.
But Messrs. Limbaugh and Beck (and their ilk)keep
telling the limp noodle masses that “Greed is good!”. 
When will these mind-warping, hate-mongers find their
deserved, righteous end?

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By Mark, April 2, 2010 at 1:16 pm Link to this comment
(Unregistered commenter)

As Samosamo points out, this jobs report amounts to happy talk - a pep talk for the general public.

162,000 new jobs per month will not make much difference.

According to the Bureau of Labor Statistics, 15 MILLION people are currently unemployed.

That’s doesn’t include the long term unemployed, i.e. folks no longer collecting unemployment benefits. Add in those folks and the real number of unemployed is much higher

Long term unemployment - longer than 6 mos - is at its highest level since WWII.

The economy will have to generate something like 300,000 new jobs a month to get people back to work in truly significant numbers.

Those kind of new job numbers haven’t been seen in many years. I think some months during the Clinton years saw new jobs being created at a rate of around 200,000 per month. That was during “good times”. Of course, unlike today, oil was cheaper then. Current oil prices will probably dampen job creation.

Hell, the 30 year trend has been that following each recession fewer people go back to work, and the ones who do, go back for lower wages.

Since the current recession was predicated on a financial crisis the likes of which we haven’t seen since the 1930’s, I’d expect that the climb back will be long, arduous and incomplete.

BTW, the failure (or refusal) to curb the excesses of Wall Street and the financial sector virtually assures another crash. When you permit bad behavoir to go unpunished, you’re guaranteed to get more of it.

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By truedigger3, April 2, 2010 at 12:56 pm Link to this comment

A REAL improvement in the US job market will not materialize, until outsourcing and offshoring US living wage jobs to foreign countries STOP and then REVERSED.
Most of the jobs, from now on, that will be created here in the US will be minimum wage or close to minimum wage service jobs that doesn’t provide living wages and almost zero benefits.
So, all that talk about improving US job market is pure uncut bullshitting.

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skulz fontaine's avatar

By skulz fontaine, April 2, 2010 at 12:34 pm Link to this comment

An improving U.S. labor market has given Obama enough proof that the domestic
economy is “beginning to turn the corner,”...the Obama is barking mad. Insane?
What koolaid swilling, bizarro world is the man living in? There are NO jobs to be
had. Not in this part of the Amerikan Empire world. Can’t get a job even after
offering to work for free. Oh yeah. Tried that. Who the hell is that guy and what
have they done with the Obama that ran for office a way back in 2008? Hmmm,
must be ‘invasion of the presidential body snatchers’. War is peace. We do not
torture. Unemployment is jobs. Blah blah blah.
I grow weary of the torment and there can be no peace.

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By samosamo, April 2, 2010 at 12:11 pm Link to this comment

Sounds more like a ‘sustained line of rhetorical BS’ to me as
surely as I think it also o’s beginning his campaign for his 2012
fraudulent re-election, oh and a bunch of ‘feel good’ talk for
those up for renewing their membership in the ‘congressional
elitist organization’, the c.e.o.s of government.

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