With Spring nearly upon us, today may be the last chance for excuse-makers to blame this winter’s awful weather for poor job creation. Consensus estimates are that Payrolls increased 149,000 in February after a mediocre gain of 113,000 in January.

What is to blame for this weak ongoing job creation? Is it the Fed’s fault? Obamacare? An obstinate GOP controlled House?

I go with “none of the above.” The reality is far more nuanced and complex.

As I have been writing (and pleading and screaming) for the past 5 years, we are in a post credit crisis recovery. These are relatively rare. They look very different than the normal, post-recession jobs recovery. As Reinhart and Rogoff first observed in 2007 – the paper without the spreadsheet error – post credit crisis recoveries are typically slow, characterized by weak GDP gains and mediocre job creation. The Deleveraging process by corporations, households and government is the reason why.  Continues here

Category: Employment, Really, really bad calls

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “Last Chance to Blame Weak Job Growth on Weather”

  1. CD4P says:

    It’s probably too ghetto of me, but you could’ve created a whole lot of jobs meriting out some social justice to the financial industry for their misdeeds. Also could’ve floated some more bonds for capital improvement projects to benefit society, but alas, that idea wasn’t mine.

  2. jnkowens says:

    Business Insider had two headlines ready to go when the jobs number came out.
    “Stocks Surge After Strong Jobs Report” and “Stocks Surge After Weak Jobs Report”.

  3. gman says:

    Whatever is hurting job growth and wages certainly is not having a negative effect on profits. Must be the islamo-socialist weakling.

  4. Willy2 says:

    The bond market took it as an encouraging sign. The yield curve flattened more & credit spreads contracted.

  5. Futuredome says:

    Sorry, but the weather impacted contractors and production based around that. In otherwords, get ready for some 300-400thou reports coming this March-June timeperiod.

    Notice job growth in the services were pretty solid. It is understanding how the BLS creates “components” that tells you how job growth will go in the future.