Thursday, January 7, 2010

What a Difference a Year Makes

Actually, it has been less than a year since Nebraska Sen. Ben Nelson bragged about the compromise that House and Senate negotiators hammered out to send the stimulus bill to Barack Obama's desk. "Call us the jobs squad," Nelson said.

So how's that working out for you?

Well, now, he tells the Fremont (Neb.) Tribune, "[I]t was a mistake to take health care on as opposed to continuing to spend the time on the economy." I guess that double–digit unemployment rate has something to do with it.

Some folks will tell you that we may see an improvement when the Labor Department issues its monthly jobless report tomorrow. We had a modest decline in the jobless rate last month — although unemployment has been at 10% nationally for the last two months — and it is possible that we may see another modest decline tomorrow.

But it is also possible that these declines are the result of temporary, seasonal hiring. Now that the holidays are over, many of those workers are likely to find themselves back in the same predicament as before.

Either way, the "jobs squad" has not produced as promised.

I guess it's a good thing for Nelson he doesn't face the voters this year.

1 comment:

askcherlock said...

I think you are correct that we will see slight bounce in the unemployment numbers for December, for the very reasons you stated. I am deeply concerned that it will be a false-positive and that any emphasis on the jobs front will be diminished.