News on the job market has been relatively quiet the over the past week as the President makes his final push for health care reform.
For the time being, here is some helpful polling from Rasmussen Reports that examines consumer confidence.
These general economic metrics are tied with the health of the job market. As consumer confidence increases, more people will begin to inject money into the economy, leading (in theory) to an increase in employment due to increased consumer demand. Rasmussen Reports notes that consumer confidence is up 26 points from this time last year.
In other news, job losses remained steady in February. This is good news considering most economists were worried that we would slip into another recession, a so called "aftershock" of what people are calling the "Great Recession", leading to increased job losses. Despite this, as the article mentioned, the U.S economy still lost 36,000 jobs in the month of February. Both Congress and the Obama Administration must now focus on job creation rather then simply minimizing job losses. Doing so is easier said then done, but the viability of the current administration lies on its ability to deliver in job creation.
These numbers represent a step in the right direction, but much more work needs to be done to get millions of Americans working again.
Monday, March 8, 2010
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