Posted by: Boston Bravery | May 11, 2010

Jobs, Jobs and More Jobs

On Friday’s show Rachel Maddow opened with an overview of the latest job statistics. “The biggest job creation in four years, the biggest one-month manufacturing job creation in almost 12 years.”

So the Republicans are asking where the jobs are and here is where the jobs based Politico, “Actually, the jobs can be found right here in the Bureau of Labor Statistics release:  there were 44,000 jobs added in manufacturing, 66,000 in government, 14,000 in construction and 45,000 added in the hospitality and leisure industry. All told, there were 290,000 new jobs added to the economy in April.”

Rachel ended with, “When you think about it, why would anybody want to invest with us if we have (a) unpredictable, inexplicable, giant, not-found-in-nature flash crashes, like we did yesterday, and (b) if government regulators are so underpowered that something like, say, the Bernie Madoff thing went on for years undetected by them? or (c) how about a financial system with giant players like Goldman Sachs allegedly selling products to their consumers– selling products to their customers– that were designed to fail?” Which is all Francis Matel on Mediaite included in his post.  Leaving out the rest which explains the statement above.

“For a long time now, we‘ve had unregulated markets, poorly regulated markets and markets that just aren‘t required to work very well.  The jobs picture in this country might be improving but we have a problem right now in terms of America competing for global financial industry money, with the system that we have.  We can‘t compete for that money unless people believe that the system rules and the cops in our financial system work well; unless we reform Wall Street, even if we can figure out how to get that Loch Ness Monster into that bikini.  Even if we pull off some sort of domestic miracle, we are not going to be able to compete and to keep recovering.” and then goes on to an interview with Dean Baker, Center for Economic & Policy Research.

Again the best overall coverage of the job numbers from Friday.

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