I don’t know why the Jobless rate was unecpected. Doesn’;t it always jump when stores let off their Christmas help?
“I don’t know why the Jobless rate was unecpected. Doesn’;t it always jump when stores let off their Christmas help?”
The first time unemployment report that is quoted in the media is seasonally-adjusted. Therefore, it takes into consideration seasonal hiring and termination events.
Nevertheless, your point is well taken. The 4Q12 GDP figures released earlier in the week were actually quite good. Only the headline was negative by virtue of the fact that government spending and corporate inventory accumulation were down. But the important things — consumer behavior, fixed investment in plant, equipment and software and residential construction — were surprisingly robust, booming in fact.
This was great news for free market oriented conservatives. The real economy grew even though government spending declined, a cause and effect that the Left Keynesians would deny is possible.
Clearly, the economy needs less government spending (i.e. waste) in order to make room for more private economic activity. Let us hope this trend continues and that our lackluster leaders on the Right grasp the issue correctly and capitalize on it.
Unleash Paul Ryan from the small, dark cell that the soap salesmen of the Romney campaign locked him in. We have tangible evidence of the benefits of freedom to point to, even in 2013! Let our voices be heard.
Last year, the unemployment rate went up “unexpectedly” because it “unexpectedly” snowed in January. I kid you not. That was the excuse.