As if merely talking about jobs were the same as doing something about the unemployment problem:
It’s the first Friday of the month, and you know what that means — a new jobs report.
As the White House and its Republican critics wait to see if the unemployment rate of 9.7 percent rises or falls, President Obama plans to fly to Charlotte, N.C., to discuss his jobs agenda.
In addition to a speech, Obama also meets with employees at Celgard, a battery technology manufacturer that is hiring people through a stimulus bill grant.
Right. And when the stimulus grant runs out . . .? Never mind. As it turns out, the unemployment rate is unchanged:
The American economy added 162,000 jobs in March, the Labor Department reported Friday, while the unemployment rate held steady at 9.7 percent.
While the numbers got a lift from the government’s hiring of census workers, private employers added 123,000 jobs in March, including 17,000 jobs. Some 40,000 temporary service jobs were added, while health care added 37,000. . . .
The economy must create 100,000 jobs each month just to absorb new entrants into the labor force, according to many projections. That sustained level of growth may not come until later this year, economists said, making pervasive unemployment a virtual certainty for some time to come.
Indeed, the government predicts the jobless rate will average 9.8 percent next year and 8.4 percent in 2012 before falling to 5 percent in 2016. . . .
That’s what “the government predicts,” you see. And we all know the government is so good at predicting the economic future. Just ask Moody’s.