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Friday, May 6, 2011

Beware The Happy Talk From Washington

The administration is full of self congratulations about the jobs picture. They seem to be taking credit for it.

Here are the facts.

The Labor Department says 244,000 new jobs were created in April.

62,000 of those new jobs were at McDonald's. So a full 25% of the new jobs were minimum wage and/or part-time.

We have to create 350,000 new jobs every month to provide jobs for graduates and to get the unemployed rate down to 6% from the present 9%.

I could live with the Happy Talk if the administration had actually done ANYTHING to create jobs, but there is no sign they have any interest whatsoever in doing that. See Paul Krugman's column a couple of entries back.

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