Yesterday's post, Not that I told you so - redux, discussed the latest unemployment figures and the lamentable job done by the Obama Administration in stimulating the economy. I only mentioned in passing the so-called "shadow unemployment" which considers part-time workers who would like to work full-time and those who've…
Remember this line? “There is strong and mounting evidence that the recovery act is putting people back to work,” a statement Vice President Joseph R. Biden Jr. made at a recent news conference in Washington.
In a recent post, Not that I told you so, I lamented the woeful results of the stimulus, and the lack of job creation results. Of course, today produced another painful reminder of this truth … that unemployment reached 10.2%, exceeding 10% for the first time since 1983!
In Where’s the Stimulus, I reported that while corporate profits were boosting the market, revenues for those same companies have fallen far more than the amount of the stimulus. While profits help fuel job growth and give companies some headroom to make those decisions, the lack of revenue growth eviscerates any need to rebuild your talent pool.
There is more evidence that the pols in Washington have no clue about how to stimulate job creation, (more…)
Tomorrow, the Obama Administration is scheduled to announce new initiatives to spur small business lending. Among the initiatives are increasing limits for SBA loan and make it easier for smaller banks to access TARP money. As we know, the SBA estimates that small business creates 60-80% of new jobs. So,…
How do you create jobs? Finally, this question is finally getting some attention in Washington ... sadly, it took increasing painful unemployment reports to get this front and center ... but from the ground floor where we live, I don't see the efficacy of some of the programs being considered.…
Sorry, folks, but I do not see any meaningful evidence of a stimulus package, that vaunted $700B jump-start to the economy. I deplored it back then … I think “mud sandwich” was the term I used. Some of us pointed out that Congress’ own calculations showed that most of it would not be effective until 12-18 months elapsed … and now the evidence is in. I’ve also referred to it as another government boondoggle because there is such an obscure line of sight and accountability for the results of the program, that you could just be sure it wouldn’t have the desired results. If you created a program like this for your business, you wouldn’t have either a business or a job.
Even the NY Times editorialized recently about the lack of leadership on jobs. Here are some of the statistics they quoted which are sobering indeed; there’s more but you get the gist: