CORRECTION UPDATE on Last Week’s Jobs Report

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I‘m on sabbatical this week, but a quick follow-up on last weeks “expectation” that the October Jobs Report was going to be “disappointing” to say the least, only for it to in fact be spectacular. Serves me right for listening to pundits of the Obama Administration.

One of the main reasons for the pundits expecting a disappointing jobs report: “low gas prices” (resulting job cuts in the oil industry), which… as I’ve pointed out previously… cheap gas is like a shot of adrenaline to the U.S. economy. Cheap energy actually DOES for the average consumer what Republicans THINK tax cuts for the rich do. It leaves consumers with more money to spend on other things. I need point no further than what $4/gal gas did in the final months of the Bush Administration.

Media Matters notes how Fox “news” hilariously tried to spin last months amazing jobs report by reporting that “ONLY 271,000 jobs were created last month.” (If I had the time to research, I’m almost 100% positive that the Bush Administration never once broke the 2K mark (let alone near the 3K threshold.)

“I shall return!”… to my regular posting duties next Monday. Be sure to join me! – Mugsy.
 


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November 9, 2015 · Admin Mugsy · No Comments - Add
Posted in: Economy, Jobs, Predictions