I thought when I heard the jobs report, that this might give many cause to slack off with the efforts to jump start jobs; to insititute a jobs program that will give more than nominal job growth; which we definitely need to have. After all, behind these “better” numbers is the sobering fact that we’d have to continue such “better” months until 2019 to return to full employment. Krugan has it right when he writes:
the sad truth is that the good jobs numbers have definitely made it less likely that the Fed will take the expansionary action it should.
To start laying low at the first sign of imporovemnt is tantamount to abandoning some signs we’re doing SOMETHING right. We in the church don’t curb our sense of call the moment we see improvement or hope; we keep on. There are a host of things contributing to the nightmare economy. A modest dip in unemployment figures is SOME good news, but nothing close to an indication we have this thing licked. It was that kind of thinking that led us to believe that previous bubbles were a vindication of those practices that created the bubbles. We see now that those actions had disastrous consequences.
