Nonfarm payroll employment was unchanged (0) in August, and the unemployment rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported today.
Zero, just zero.
The employment number reportedly was lower than it should have been because of a strike by 45,000 Verizon workers. But it is a sad — no, disturbing — state of affairs when one strike by one union at one company, even a large one, can cancel out all other job growth in nation of 310 million people.
Job growth in the two previous months was also revised downward by a cumulative 58,000.
The chorus on the left advising Obama to be bold in his proposal — and by “be bold” they mean: propose a whole lot more of what he’s already tried, rather than a little more of what he’s already tried, even if he/they know a remix of Obama’s greatest “hits” won’t pass muster in the GOP-controlled House — is only going to grow.
This would be a scintillating drama if it weren’t such a desperate time for so many people. My advice to Obama is to offer a plan that has a real chance of getting through Congress — combining some of his ideas with, say, a freeze on big new regulations (maybe even a repeal of some of the existing ones Republicans are targeting) and a corporate tax reform that cuts loopholes and lowers the rate — not an election-minded attempt to portray John Boehner & Co. as the bad guys.
ADDED at 10:58 a.m.: No sooner had I published this post than CBS News’ Mark Knoller tweeted:
At Pres Obama’s direction, EPA was directed to reconsider its proposed final rule on Ozone/Air Quality standards & revisit in 2013.
A spokesman for Boehner called the move “a good first step.” Maybe we will get somewhere after all.
– By Kyle Wingfield