Notes on the Atrocities
Like a 100-watt radio station, broadcasting to the dozens...

Friday, April 02, 2004  


So the tax cuts have finally born the fruit of jobs. Sorry, the Jobs and Economic Growth initiative. Of course, dour liberal naysayers aren't pleased--predictably.


If the job prediction was nothing more than a return to trend, then the White House was practicing hokum by implying that this return to trend depended on their tax cuts.

If the job growth they predicted was nothing more than a return to trend, then the tax cuts are ineffectual in producing jobs, since all we're doing is getting back to trend.

If the household survey is more accurate because it captures all those magical job gains in self-employment and entrepreneurial pastimes, then this month's report stinks badly.


It's a strong jobs report out this month, but like every number out there, in this back and forth economy, there's a negative kicker-- namely that the number of hours worked per employee fell...

So while job growth was 0.2 percent, the amount of hours worked for everyone else fell on average 0.1 percent.

So when you measure how much additional labor was needed in the economy last month, it was still a pretty enemic 0.1 percent growth in new hours of labor needed.

But what do you expect from pointy-heads like these guys? They just resort to numbers to make their arguments. They need to get the faith--mmmm, tax cuts!

posted by Jeff | 7:38 AM |
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