CNBC, Jeff Cox: "Job Openings Report Shows Market Is Really, Really Bad -- Job openings fell to a five-month low in April and showed their sharpest percentage decline in about seven-and-a-half years, according to a government report [today] that helped confirm a slowdown in the labor market," as if we needed confirmation.For a change, this is actually what the CNBC article stated and the context given for this number is false:
"The Job Openings and Labor Turnover Survey, or JOLTS, indicated 3.4 million job openings at the end of April, an 8% decline from the previous month."
Job openings fell to a five-month low in April and showed their sharpest percentage decline in about seven and a half years, according to a government report Tuesday that helped confirm a slowdown in the labor market.Here are the JOLT survey results from its inception in the year 2000.
Number of Job Openings:
Rate of Job Openings:
As you can see, there is no cause for pessimism.
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http://www.nybooks.com/articles/archives/2012/jul/12/getting-away-it/?pagination=false
Krugman more or less concedes Obama is a fail. He's wrong about the necessity of the bailout, of course.
Yeah, Krugzilla is correct. Obama should've realized no later than August 2009 that we needed more stimulus spending.
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