…the government reported Friday that employers are still in a hiring mood, adding an estimated 167,000 new jobs in December. That was more than expected and left the unemployment rate unchanged at 4.5 percent, relatively low by historical standards.Relatively low by historical standards is an odd way to phrase those numbers. I would say, “Low by any standard set in any region or time in the history of the world.” That’s just me though.
While there may have been a basis for that concern several years ago, the increasingly tight labor market has seen strong growth of jobs that pay higher-than-average wages over the past few months.To make it simple…
On average, the wages of American workers are rising.
Well that’s that. The scaremongering fanaticism we saw from Democrats over the last few years was dishonest and/or idiotic. Anyone with a basic understanding of how capitalism works knows that markets expand and contract – there is overinvestment and then correction. The economy works in cycles. It always has and it always will. Next time there is a recession, don’t blame the sitting president.
Frankly, it is like blaming Ford’s new CEO (Alan Mulally) for the company’s problems. A layman/ignoramus might blame the new guy for the company’s problems, but the fact is that there are many nuances involved in Ford’s demise. These nuances go back decades, not just a couple months or years ago.
I think it is fair to say that the overall US economy is more complex and dynamic than a single motor company. That being said, how in good conscience could any politician or responsible citizen blame a president for an economic shortfall? The whole point of capitalism is that business and state are separated.
The separation of business and state.