Thursday, February 25, 2010

Latest Excuse For Job Loss Numbers? Snow

Are you frikkin kidding me? The latest excuse, put forth by the state media for the of course unexpected decline in job numbers is snow.
The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows caused layoffs to rise.
Now who could have predicted that the northeast would have snow in the winter? Certainly not the climate change advocates who for a long time have given dire predictions of snowless winters. So I guess that leads to the obvious question: could our current employment situation actually be helped if there was actual global warming?

Folks, I warned of continued layoffs in the first quarter of 2010 last year, when some economists looking through their rose colored glasses were talking of an economy that was turning around. In fact as this article points out, economists say the economy has been improving for six months.
The economy has grown for six months but is not yet spurring new hiring. Many economists point out that the current recovery is weak compared to the aftermath of previous deep recessions.
I am not quite sure what they are using to say the economy is improving, but I can tell you that the general atmosphere in the business world is that there is just too much uncertainty, mostly linked to wondering which portion of private sector business is going to be targeted next by the political class to be public enemy number one. There is a ton of uneasiness related to all of the legislation pending or being bandied about in DC, whether it is the health care takeover, punishing companies with profits that some liberal considers to be extreme, or any of the various environmental measures being contemplated.

There is just too much fear in the private sector and a still tight credit market to promote any sort of expansion or risk taking by private business. Amazing, ain't it, that nobody seems offended by obscene profits being posted by Google or Microsoft?

So let's blame the snow instead of the real reasons. I can't wait until Congress subpoenas Frosty the Snowman to come testify in defense of the obscene levels of snowfall while he was taking exotic vacations to the North Pole. Sounds about as reasonable as their pursuit of a playoff in college football and steroids in baseball.

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