Jared Bernstein 01/19/10 11:28 PM EST
When it comes to the job market these days, the best you can say is that the news is less bad.
Employment is now contracting one-tenth as fast as it was a year ago. We were losing jobs at a nightmarish rate of 690,000 per month in the first quarter of last year; in the quarter just ended, that loss rate fell to 69,000 jobs per month. Unemployment appears recently stabilized, though at an unacceptably high level of 10 percent.
Rep. Eric Cantor (R-Va.) 01/19/10 11:27 PM EST
Early last year, the administration told us that the $787 billion burst of pork-barrel government spending known as the stimulus was the magic elixir that would hold unemployment below 8 percent.
Rep. Dave Camp (R-Mich.) 01/19/10 11:20 PM EST
While the White House keeps changing their job-calculation methods in a desperate effort to claim their so-called stimulus bill is working, Americans are still asking: Where are the jobs?
Sec. Ray LaHood 01/19/10 11:17 PM EST
“I came from nothing and now I have a job that is a future for me. Not just a job, an actual career.”