Monthly Jobs Numbers
According to the Bureau of Labor Statistics, 243,000 jobs were created in the month of January, and the unemployment rate dropped to 8.3%. The bulk of the jobs were in restaurants and hospitality, manufacturing, and mining. Even construction picked up.
This is great news for those more than 19 million people who are unemployed and/or looking for work. Hopefully job creation will continue, but President Obama trying to take credit for this is like him continuing to blame former-President Bush for the ongoing problems in the country – it’s just not accurate.
We are now three years into his Presidency, and the actions he took in 2009 were meant to keep unemployment below 8.0%. The bulk of the stimulus spending ended long ago, the auto bailout happened two years ago, and Obamacare wasn’t a jobs plan. If his “stimulative” policies were responsible for this growth, it should have created this kind of employment reports years ago, but they didn’t. This news comes despite the President’s policies, not because of them.
If anything, the fact that the new Congress has put a stop to President Obama’s big government agenda might actually be the reason our country is doing better. Unless they’re passing bills that get the government out of the way (like reducing regulations, repealing Obamacare, or lessening the tax burden) then the best course of action is to continue to let the free market do what it does best.