"The jobs story has been so bad for so long that it's hard not to get excited about two months of employment moving in the right direction.
"The household survey, which better captures start up and small business activity, reports positive gains in key areas for two straight months now. First, after two months of decline, the number of employed increased by 331,000 in August and 398,000 in September. Second, again after declines in two months, the labor force grew by 366,000 in August and by 423,000 in September. That's most welcome news.
"Of course, however, we still have a very deep hole to climb out of, and the question is: Will this brief positive move continue or will it be just another blip? That depends entirely on the policy climate. If the agenda of ever-increasing government, higher taxes, and more regulation continues, then we will continue to slog through an uneven, poor recovery. But a pro-growth agenda of smaller government, lower taxes, and deregulation, along with free trade and monetary policy focused on price stability, would provide a foundation upon which a strong recovery can be built. The policies that bring about economic growth and job creation are no secret. Unfortunately, we've been doing the exact opposite for nearly four years now."
Tuesday, October 11, 2011
SBE Council Chief Economist on Latest Jobs Numbers and the Economy
Raymond J. Keating, chief economist for the Small Business & Entrepreneurship Council (SBE Council), released the following statement in response to the September employment data reported by the U.S. Bureau of Labor Statistics: