Have you heard the one about how the Reagan economy produced over one million jobs in one month (September 1983)?
The story goes something like this, chronologically, as best I can ascertain:
David Winston (September 2011):
Extra credit for Mr. Winston for driving the lie home with a reference
to the inception of record keeping in 1939: “At this same moment in
1983, Ronald Reagan’s policies were about to create 1.1 million jobs in
the month of September alone, the biggest one-month job gain since the
Bureau of Labor Statistics officially began keeping track back in
February 1939.”
Around that same time – and no doubt leading to the Wall
St. Journal editorial (immediately below) – both Stephen Moore and Newt
Gingrich, among others, were making the rounds on television flogging the bogus number.
I’ll note that one video clip (January 14, 2012) shows Erin Burnett –
much to her credit – challenging Gingrich on the number and forcing him
to backpedal.
1 comment:
As I can see the situation in the labor market has not changed radically. People still have the lack of working places. As a result the offer is exceeding the demand and working force is evaluated in low salary. Also many companies choose to hire people who can work for less salary and make the same job. That is why we have dramatic problem in this sector and the government needs to pay attention to this. Because this is the main sign of development of economy. But for the time being people need to avail of payday loans 24/7 to cover their regular needs and spendign.
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