Thursday, September 8, 2011

Obama Stay Away: The Private Sector Employment Picture is Just Fine (and improving)

There's no need for President Obama to do anything. As Ed Yardeni points out , private sector payrolls bottomed in February 2010. They are up 2.4 million over during the 18-month period since then. Over the same period of the previous recovery, private sector employment rose 2.5 million.

The Obama jobs/infrastructure program is a scam to expand government and pour money into the pockets of banksters and union leaders. Jobs being lost now are at the state and local government level. These people should be employed in the private sector anyway, where they will meet consumer demand versus government bureaucratic paper shuffling and the suffocation of the private sector.

Chart via

From Ed Yardeni:

The pace of hiring could actually improve in coming months. The Monster Employment Index rose 3 points in August to 147, the highest reading since October 2008. Last month’s advance was led by increases in natural resources, healthcare, and retail trade. The following industries were at cyclical highs during August: manufacturing, construction, transportation & warehousing, retail, information, educational services, and healthcare & social assistance.


  1. You are trying to take away their reason to steal another trillion dollars? Good luck with that. the Fed commerical investment banks are going to pour a ton of counterfeit into the equity markets tomorrow. Slavery is prosperity.

  2. He has to continue to intervene until the recovery happens, so he can claim credit. To stop the intervention would only invite criticism when things start getting better.