Unemployment Get Better, Right On Cue
Back in October, I said this:
If jobs start getting created after big Republican wins in November, it’ll likely be because the "Party of No" will be there to curb this uncertainty.
Employers in February hired at the fastest pace in almost a year and the unemployment rate fell to 8.9 percent—a nearly two-year low.
The economy added 192,000 jobs last month, with factories, professional and business services, education and health care among those expanding employment. Retailers, however, trimmed jobs. State and local government, wrestling with budget shortfalls, slashed 30,000 jobs, the most since November.
The government’s report Friday bolstered hopes that employers will shift into a more aggressively hiring mode and allow the economic recovery to get on firmer footing.
The unemployment rate has been falling for three months, down from 9.8 percent in November.
I’m no economist, but this sort of clear cause-and-effect is rarely seen in politics. But indeed, taking the uncertainty out of economic policy has done what it should have done; allowed businesses to take a deep breath and jump back in to a hiring mode. The Obama administration’s policies were all over the map and were giving businesses heartburn trying to predict what new regulations would come out that afternoon. The "Party of No" has returned stability to the process, and now unemployment is going down.
Was that so hard to understand, really?
Filed under: Economics • Government
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