By FITSNews || The American economy shed another 20,000 jobs in January, while its December 2009 job losses were revised to show 150,000 lost jobs instead of the 85,000 previously reported.
Obviously, that’s better news than this time last year, but it’s hardly the stuff of “recovery.”
Indeed, the Labor Department announced Friday that the American economy lost 600,000 more jobs in 2009 than originally reported, bringing the total number of lost jobs since the beginning of the recession to a staggering 8.4 million.
Of course in South Carolina and elsewhere, government jobs have been immune from the effects of the recession.
In fact, a report released Friday by the Cato Institute in Washington D.C. showed that federal civilian employment in the executive branch will be 15 percent higher in 2011 (under President Barack Obama’s proposed budget) than it was in 2007.
Take a look:
The Cato report even excluded temporary hires by the U.S. Department of Commerce related to the U.S. Census, which were cited as one reason overall January job losses were lower than expected.
Overall, the national unemployment rate edged down from 10 percent to 9.7 percent, although a sharp increase in the number of people giving up their job search helped to depress the jobless rate. In fact, the number of “discouraged job seekers” rose to 1.1 million in January from 734,000 last year, another all-time high.
By Katherine Jenerette February 5, 2010 at 11:31 am
The simple JOB equation in a free market economy:
RULE 1: A single job is created when (usually small) Business A [that provides a product or service the consumer wants] determines that the addition of a single worker who is working will increase the net profits for Business A after factoring in payroll, benefits, taxes, and overhead including Government regulations and paperwork costs.
RULE 2: A single job is not created when Business A determines that the addition of a single worker who is working will decrease the net profits for Business A after factoring in payroll, benefits, taxes, and overhead including Government regulations and paperwork costs.
FINDINGS: The variable factor that is controllable by elected officials that determine the outcome of job creation at the end of the day: Taxes and Government regulation.
Therefore introduce LEGISLATIVE ACTION: Elimination of Taxes and Government regulation.
By Liberty For Me February 5, 2010 at 11:52 am
Reverse the power…Raise the state power and shrink central government.
It is the ONLY answer and the way we are supposed to live.
By Liberty For Me February 5, 2010 at 12:14 pm
Am I the only one that thinks it feels weird how the government is going after Toyota???…I wonder if owning GM has anything to do with it?
By countryboy February 5, 2010 at 12:57 pm
Liberty, just a couple of comments on your comments… In theory I like the idea of more power to the states. But when you have “inmates running our asylum” the theory is questionable. Do you really want to give the idiots in the SC government more power? First thing they would do with more power is ……..yep, more people (govt. employees).
And yes I do think the government going after Toyota is designed to help the US auto industry. But the more I hear about Toyota ignoring safety problems and trying to cover them up, the more I agree with the Govt. attacking Toyota….
By berkeley voter February 5, 2010 at 1:06 pm
Katherine, quit playing around on the computer and turn in you FEC financial disclosure. How much have you raised? It’s not on line yet. If you can’t manage your campaign, how are we suppose to trust you in office?
By Rick February 5, 2010 at 2:24 pm
Was toyota really trying to ignore safety problems or is this another “look at what we’re doing to protect you from the big bad business community”? At what point do we begin believing the Mainstream media and politicians again? Toyota has had a solid record up until now and government has had a piss poor record….veracity anyone???
By Liberty For Me February 5, 2010 at 2:59 pm
countryboy…Really?? You think the idiots in the statehouse are worse than Obama and Nancy Graham??? Come on.I understand what you are saying and I hope it is half tongue in cheek.Lets put it this way.If the governing powers that in my life were messing up,I could walk down Devine and let them know.2000 people at the statehouse is a rally…2000 in Washington is a nuisance.The closer power is to you the more control you have of it…and the more you gain in Liberty
As far as Toyota,I think you are taking it out of perspective.They all have recalls all the time.Just seems to be a little heavy with the press on Toyota..and convenient.But maybe I am just imagining it.