Skip to comments.U.S. Chamber Comments on Weak Private Sector Job Growth
Posted on 09/25/2010 5:28:11 AM PDT by Son House
Following Fridays report that only 67,000 new jobs were created in the private sector in August, the U.S. Chamber of Commerces Chief Economist, Dr. Martin Regalia, issued the following statement:
The employment data released today shows another month of anemic job growth in the private sector and an outright decline in the total number of jobs.
While this data was better than expected, it is a sad day when such a dismal number exceeds our expectations.
Once again, these numbers are confirmation that the economy is not growing sufficiently and it is far past time for the administration and Congress to reconsider their economic strategy.
The U.S. Chamber of Commerce is the worlds largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
This report comes out as well as the one yesterday about "manufacturing and orders" and there is a rally.
Do these people not read the others' publications?
The U.S.C.C. has absolutely no credibility. They along with the WVa.C.C. just this week endorsed Joe Manchin over a very good conservative candidate John Raese. Manchin is the only governor that had a cap and trade bill written for him to sign into law. Our once conservative institutions like NRA, Protestant and Catholic hierarchies and U.S.C.C. have been polluted with greedy socialists. We must take back the Congress and two years take by the Executive Branch.
God help us if we don’t.
Some investors have capitol to bet. The bet is Democrats won’t control both houses of Congress, though they may not win the bet, stocks can sell on rumor, and if a good rumor is true, usually it is said to have been anticipated by the market.
Dollar has been falling, so US stocks look cheap to foreigners would be my guess.
A bit of everything.
1) Some manufacturing numbers were up more than expected.
2) Some feeling that Repub victory in the House will stop or slow down the damage done by Obama and the hard left.
3) There is excess capital looking for ANY good news.
4) The continuing fall or the dollar makes us look good overseas. So, firm like Caterpillar do well if foreign firms buy their equipment at devalued prices.
WARNING: Obama (a monster that is the creation of Dr Frankenstein putting together body and brains from Woodrow Wilson, Herbert Hoover, FDR and Jimmy Carter) is considering a tariff war with China.
There is a lot of sovereign wealth from other countries moving capital around. But all it takes is something to spook them (including Soros).
MEMO TO C OF C:
We have exported our jobs, stupid. When people don’t have money to spend, business runs out of customers.