No job growth for eight months?

No job growth for eight months?

On CBS’ Early Show today, Vice Presidential Economic Advisor Jared Bernstein emphasized the Administration’s new estimates that the stimulus has “saved or created” one million jobs. I won’t belabor the point that these estimates are unreliable.

But in a classic example of burying the lead, Dr. Bernstein was asked when he expected job growth.

Harry Smith: When does this economy start to create jobs on its own?

Dr. Bernstein: As far as the overall economy is concerned, private sector forecasters tell us that by the second half of next year, net job growth should be positive, unemployment should be coming down.

I hope this is expectations management. The beginning of the second half of next year is eight months away.

Here’s the follow-up question I’d like to see asked:

If these projections are correct and the economy loses jobs for the next eight months, how certain is economic recovery?

See for yourself, beginning at 02:38.

Watch CBS News Videos Online

8 responses

  1. Pingback: Tweets that mention No job growth for eight months?  |  KeithHennessey.com -- Topsy.com

  2. Pingback: Hot Air » Blog Archive » Video: Biden econ adviser says employment won’t rebound for eight months

  3. I have taken to turning off CNBC when Bernstein come on. He spins more than your typical whirling dervish. I trust nothing he says. Nothing.

  4. As I recall, it was 22 months from the end of the 2001 recession to the beginning of sustained positive growth in nonfarm payroll employment, according the latest vintage of NFP data.

  5. Pingback: The Greenroom » Forum Archive » ObamaCare: Dithering while the economy burns

  6. Pingback: Patterico's Pontifications » ObamaCare: Dithering while the economy burns

  7. Pingback: Unemployment and the Midterms - Ross Douthat Blog - NYTimes.com

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