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March 09, 2012 06:10 PM UTC

What a Recovering Economy Looks Like

  • 23 Comments
  • by: Colorado Pols

AP via 9NEWS, the story today on every channel:

U.S. employers added 227,000 jobs in February to complete three of the best months of hiring since the recession began. The unemployment rate was unchanged, largely because more people streamed into the work force.

The Labor Department said Friday that the unemployment rate stayed at 8.3 percent last month, the lowest in three years.

And hiring in January and December was better than first thought. The government revised those figures to show 61,000 an additional jobs…

Nearly a half-million people began looking for work last month, and most found jobs, the report said. That’s a sign of growing optimism in the job market, as many people who had given up on looking for work come off the sidelines to search for jobs.

Politico reports that Democrats might actually try to drive home a coherent message this time:

Three years ago today, the Dow Jones Industrial Average hit its financial crisis intraday low of 6,440. Look for top Democrats to begin talking about how far we have come since then.

The talking points will go something like this, per a top Dem: In the three years since hitting its crisis bottom, the Dow has doubled. By March 2009, household wealth had fallen to the lowest level reached during the recession – wiping out gains over the five years beforehand. Since then, households have rebuilt $8 trillion in net worth, an increase of over 15 percent.

We still have not fully recovered from the damage that was done by the financial crisis – and jobs remain the top concern — but this milestone seems important to note – especially as it undercuts the argument from those who say the President’s policies (i.e. Wall Street reform) have stifled growth.

If you’re a Democrat, the combination of a rapidly improving job market and economic outlook, and a well thought-out political message about this economic recovery–contrasted against the gloom and doom predicted and even reveled in by the GOP since the day Barack Obama took office–has got to make you happy. This is where the Jimmy Carter analogies break down.

And the same recovery could put doomsaying Republicans in an unenviable position.

Comments

23 thoughts on “What a Recovering Economy Looks Like

  1. Thanks for the DNC propaganda though, Pols!

    http://www.miamiherald.com/201

    Mitt Romney looks like the weakest front-runner for a party’s presidential nomination in decades right now, one who could limp to the Republican nomination, then drag the Republican Party down to defeat in the fall.

    Looks can deceive.

    Assuming he secures the nomination by the Republican National Convention in August, there’s every reason to believe that his party would close ranks behind its challenger to President Barack Obama. And the widespread disquiet in the American public over the state of the economy, federal finance and dysfunction in Washington could give him an opening to appeal anew for independents to support him as the can-do candidate of change.

    There are precedents.

    Ronald Reagan in spring of 1980 was neck and neck with President Jimmy Carter. He rallied his party, assured the country he was a safe choice, and promised a turnaround from an ailing economy. He won in a landslide.

    1. How is a recovering economy “DNC propaganda?”

      I thought any good news on this front was good for the NATION, and not just one political party.

      Is it because it exposes the Republican’t Party line of BS in 2010? Y’know, that “Jobs Jobs Jobs!” thing they ran on and NEVER DID?

    2. Reagan…promised a turnaround from an ailing economy.

      Too late! The economy has turned around.

      But look over there! It’s a prostitute taking birth control pills paid for with your tax dollars. Oh wait, that’s just somebody’s daughter. Never mind. Sorry.

  2. The economy needs to create 100,000 jobs per month just to keep up with population growth.

    There are 7.5 million fewer jobs than there were in 2007.

    Jobs are worthless considering the dollar has lost 95% of its value since 1914.

    Yippe, its Friday.

        1. that is good enough.  Kind of depressing, but good enough.  I don’t think jobs are worthless though.  Hell, I really need mine.

          1. The Dollar “losing 95% of its value” by one measure (inflation) is meaningless as the comparison below shows. The relative amount of worker time needed to purchase each of the items from 1900 to 2000 shows the amazing rise in the U.S. standard of living in the last century:


            *Work Time Needed for the Average Worker

            to Buy Selected Products*

            Beginning of Century / End of Century

            Half gallon of milk 56 minutes / 7 minutes

            One-pound loaf of bread 16 minutes / 3.5 minutes

            Hershey chocolate bar 20 minutes / 2.1 minutes

            Three-pound chicken 2 hours 40 minutes / 14 minutes

            Pair of Levis jeans 9 hours 42 minutes / 3 hours 24 minutes

            100 kilowatt hours of electricity 107 hours / 17 minutes 38 minutes

            3 minute coast-to-coast phone call 90 hours 40 minutes / 2 minutes

            Source: Myths of Rich and Poor, Michael Cox and Richard Alm, 1999.

            Items are for various years near the beginning and end of the century.

            Joint

            Economic

            Committee

            In 1907, my grandfather took his life savings of $3,000 and built a general store with living quarters on the second floor to support his wife and two kids in Atlanta.  

            That was a huge gamble that paid off very nicely (especially since it was mere months before the panic that year that led to many bank failures).

      1. It is not all Republicans. The Catholics hate birth control, abortion and want to define life at concpetion. Colorado Right to Life is also a huge instigator and I swear these groups true intetnion is to gurantee R’s never win another election.

        CRTL tried to hijack the caucus I was at. Their conception resolution received ZERO votes.

        These guys have no concept of the financial,judical and other mess their dudlydogood policys would cause.

        500,000 new jobs is just the tip of the iceberg they would unleash.

        They just dont understand reallity.

    1. Oh wait that’s where Obama started from when I was sworn in.  If you measure it from the low point of the Bush Recession, the job growth is 900,000 because of the jobs you’re not losing right now.

      As far as the purchasing price of the dollar, what did you expect when you cheered on a useless war that cost a thousand times more than was estimated and achieved little real improvement in our national safety.  You make lousy decisions, your national assets will decrease.

  3. Romney has a spot running, think I saw it on the Today show political news segment Friday, going on about how Obama is terrible as the economy is getting worse and there are more layoffs in the near future. It was a new spot for one of the Southern states.

    1. Companies are replenishing inventories and homeowners are purchasing essentials they have put off for years. But that is not what will lead to a booming economy. What’s key now is if consumers start making more optional purchases. A lot more.

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