Friday, December 3, 2010

Nasty jobs report today

The unemployment rate ROSE last month to 9.8 percent, we learned today.

The U.S. added a pathetic 39,000 jobs. We needed to add 150,000 jobs simply to absorb new people entering the work force. It's ugly.

Steve Benen at Political Animal called the news "a punch to the gut." He argues,

If our political system were sane, awful news like this would be a much-needed wake-up call that would spur policymakers to action. There would be an immediate drive on the part of Congress and the White House to do far more to stimulate the economy, inject more capital into the system, and invest in job-creation measures immediately.

Of course, if our political system were sane, Congress would have extended unemployment benefits for the millions of jobless people who are running out.

You can write Congress here and tell your representatives to extend unemployment now.