CNS News reports on the disappointing job numbers.
The economy added only 74,000 non-farm jobs in December, the fewest in three years. Yet the unemployment rate dropped 0.3 points to 6.7 percent — the first time in 60 months it has dropped below 7 percent, the Labor Department announced on Friday.
With so few jobs added, the jobless rate still went down because people stopped looking for work.
The Bureau of Labor Statistics says the number of unemployed persons declined by 490,000 to 10.4 million in December, indicating that many of them dropped out of the labor force.
The government counts people as unemployed only if they are actively searching for work.
[…]In 2013, job growth averaged 182,000 per month, about the same as in 2012, when it averaged 183,000 a month.
I am thinking about whether the Obama administration has done anything in the last 5 years to create any jobs. I know they could have suspended the employer portion of payroll taxes. They didn’t do that. They could have allowed the Keystone XL pipeline. They didn’t do that. They could have repealed Obamacare so that employers didn’t have to reduce worker hours to avoid having to pay penalties. They didn’t do that. They could have stopped borrowing over a trillion dollars a year. They didn’t do that.
So I am just wondering what exactly this government has done to create jobs. I know the economy is resilient, and some jobs get created every month, no matter what. But I would like someone to tell me how this government has encouraged the private sector to hire more workers. I think if they had done anything to specifically address jobs, then I would know about it.