You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Editorial columns

  • Short-sighted decision shortchanges students
    Since taking office last year, one of the most exciting things I've seen in Indiana has been the growing momentum and support for early-childhood education.
  • In the best interests of Hoosier children
    Earlier this year our state made history by approving the first state-funded pre-kindergarten grant program for low-income families in Indiana.
  • Domestic violence a worldwide scourge
    Many of us have found ourselves shocked at the sight of Super Bowl champion Ray Rice punching his then fiancée, now wife, so hard in the face that she was rendered unconscious.
Advertisement

Jobs rally, though few take notice

If the latest unemployment figures had come out Nov. 2, instead of Friday, we could have been sure that Democrats would have flooded us with dismissive rationalizations and Republicans would have crowed that the numbers proved President Obama’s economic policies were a failure.

Instead, the jobless figures, showing unemployment rising to 7.9 percent in January from 7.8 percent in December, were ignored by the politicians, who have moved on to occupy themselves with sequestration, “fiscal cliffs,” debt ceilings and other dramas.

Although the jobless rate was basically unchanged since last September, employers were adding jobs at a fairly healthy rate.

A jobs recovery is under way; the reason why rates don’t seem to be changing much is because more people are seeking those jobs.

Companies added 157,000 jobs in January, and the Department of Labor significantly revised upward its estimates of end-of-the-year hiring.

The higher Social Security tax that took effect in January didn’t do terrible damage to consumer spending, which remained high along with business investment.

And these new figures show bellwether industries – such as construction, retail, and hotels and restaurants – adding jobs.

The stock market thought all of this was promising news and the Dow Jones industrial average topped 14,000 Friday for the first time in five years.

But the short-term outlook is not terribly promising, in part because of uncertainty over what Congress will do.

Advertisement