Don’t expect a hiring boom any time soon
posted at 9:30 am on March 10, 2010 by Ed Morrissey
In fact, hiring may not be as good as it has been this quarter — when the net result was a loss of 62,000 jobs since the start of the year. The latest global survey from Manpower shows American employers slightly less willing to hire new workers, with three-quarters of them planning to maintain their status quo instead for the spring. The rest of the world has a brighter outlook (via DogSoldier):
U.S. employers are slightly less willing to hire workers in the coming quarter than they were three months ago, even as hiring intentions improved in most other countries and territories, especially in Asia, according to a quarterly survey by Manpower.
Its U.S. survey renewed questions about the pace and sustainability of a forecasted U.S. jobs recovery, and whether eventual jobs creation will make much of a dent in the ranks of unemployed, which now number some 17 million Americans.
The global employment services company said Tuesday its seasonally adjusted U.S. net employment outlook was plus-5 for the second quarter, down slightly from plus-6 in the previous survey.
The index number comes from a calculation of businesses that plan expansions against those who plan cuts. Seventy-three percent plan neither, preferring to wait until consumer demand rebounds. Unfortunately, consumer demand won’t rebound until more consumers get jobs, setting up what CNBC rightly calls an economic catch-22.
How can the US break that catch-22? In the early 1980s, the government sent strong pricing signals on taxation that encouraged capital to flow back into the markets after the double-dip recession from 1980-1982, the last time unemployment got to this level. Not only did the Reagan administration roll back income taxes, it also lowered capital gains taxes and reduced regulation on energy production, providing the economy with cheaper energy to fuel the expansion. George W. Bush did the same after the 2000-1 and 9/11 recession, starting a five-year expansion.
By contrast, this administration has signaled higher costs and larger tax burdens since taking office. Employers face health-insurance mandates, capital-gains tax hikes, surtaxes, and an energy policy guaranteed to make production and transportation costs skyrocket. Even when consumer demand starts to increase, businesses will hesitate to expand while they hedge their bets — and their cash — against the coming tax storms.
Instead of having an American expansion, it looks as though we’re going to let Asia and the rest of the world have it for us.
Blowback
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But Obama promised!
Mr. Joe on March 10, 2010 at 9:32 AM
The WH can claim success.
This was the plan, right?
artist on March 10, 2010 at 9:33 AM
There is indeed a hiring boom. It was lowered a few months ago.
unclesmrgol on March 10, 2010 at 9:33 AM
Joe Biden said we would all have jobs and hair plugs if we needed them.
Mr. Joe on March 10, 2010 at 9:33 AM
If Harry Reid thinks that losing 36K jobs in February was a good day, then this is glorious news for the Obama administration.
highhopes on March 10, 2010 at 9:34 AM
All part of the plan, my friends, all part of the plan.
Love,
Barry.
turfmann on March 10, 2010 at 9:34 AM
And here is where B.O. and his merry band of misfit liberals are failing miserably. Right now, the chief focus in this country should be on jobs and getting this country back on track economically, not fiddling and frolicking about with some idiotic healthcare bill that the vast majority of Americans oppose with a violent passion.
Unless the Democrats want to see a sudden reduction of their membership elite in Congress come November, they had better start concentrating on the issues they should be exhausting their resources on right now to get America back where it should be financially, and just shove healthcare reform back on the shelf where it belongs.
pilamaye on March 10, 2010 at 9:35 AM
This is the key point. The biggest impediment to recovery is the uncertainty created by this government.
Aviator on March 10, 2010 at 9:35 AM
How’s that Hope and Change working out for you America?
Ordinary1 on March 10, 2010 at 9:35 AM
It’s a trade off. The rest of the world gets jobs and Americans get Obama and a radical socialist agenda. Lucky us.
highhopes on March 10, 2010 at 9:36 AM
As long as the plan is to wreck the American economy (along with wrecking the traditional American government). Which, I fear, it is.
Dear Liar must go — impeachment or resignation now.
rbj on March 10, 2010 at 9:36 AM
The only hiring boom will be for those plump government jobs. “Green jobs??” Puh-lease. How’s that working out for Spain?? Oh, right…they’re right behind Greece in debt troubles. Hopefully come November we will have control of the House and can try and encourage an environment where businesses, small and large, don’t feel threatened by what the government is planning to do to us.
search4truth on March 10, 2010 at 9:37 AM
I blame Bush. And Global Warming. And Racism.
trubble on March 10, 2010 at 9:37 AM
JOE BIDEN October 15, 2008: John’s last-minute economic plan does nothing to tackle the number-one job facing the middle class, and it happens to be, as Barack says, a three-letter word: jobs, j-o-b-s, jobs.
Brat on March 10, 2010 at 9:37 AM
Barry – All your economic base are belong to us.
Vashta.Nerada on March 10, 2010 at 9:38 AM
Liberals have always said they want to model us after Europe: A ‘permanent’ high unemployment rate is a feature – not a bug.
gwelf on March 10, 2010 at 9:40 AM
Massa joked that he should be fracking his aide. Well, in reality Obama is fracking our economy and us. I hope his supporters on the lower end of the economic scale enjoy their government cheese.
BuckeyeSam on March 10, 2010 at 9:41 AM
Obama’s Recovery Act: Up to 1.6 Million Jobs Created or Saved
http://vodpod.com/watch/2621331-obamas-recovery-act-up-to-1-6-million-jobs-created-or-saved
canopfor on March 10, 2010 at 9:42 AM
Where is my damn Obama money?
daesleeper on March 10, 2010 at 9:43 AM
Why do you wingnuts hate America?
Good Lt on March 10, 2010 at 9:44 AM
Has it occurred to anyone else that perhaps we are the chicken?
Vashta.Nerada on March 10, 2010 at 9:44 AM
Unemployment is 21.6%!
================================
http://www.shadowstats.com/
canopfor on March 10, 2010 at 9:45 AM
ugh
blatantblue on March 10, 2010 at 9:45 AM
A good solid B+.
TheAdmiral on March 10, 2010 at 9:46 AM
Is this what Obama meant when he told Joe the Plumber it’s only fair?
Rip Ford on March 10, 2010 at 9:46 AM
So glad we’re getting another health care stump speech today.
Midas on March 10, 2010 at 9:46 AM
Why do you wingnuts hate America?
Good Lt on March 10, 2010 at 9:44 AM
Good Lt: Left or right!!:)
canopfor on March 10, 2010 at 9:46 AM
lol, kinda seems that way, doesn’t it?
Midas on March 10, 2010 at 9:46 AM
Oh my!
What glorious news for the people!
Good Lt on March 10, 2010 at 9:47 AM
What do you think that redhead’s cell phone bill looks like?
Chuck Schick on March 10, 2010 at 9:48 AM
“2012 the end of an ERROR”
PatriotRider on March 10, 2010 at 9:48 AM
Instead of having an American expansion, it looks as though we’re going to let Asia and the rest of the world have it for us.
Is this hopey/changey or smart power?
SHARPTOOTH on March 10, 2010 at 9:48 AM
Some of these businesses may very well fall into the category of making cuts. Small businesses don’t usually plan well into the future to make cuts, they compete, and make cuts only if they have to.
forest on March 10, 2010 at 9:49 AM
Take a look at what happened when Sen. Bunning got up and had the audacity to actually suggest we needed to pay for a 15b jobs bill that extended unemployment benefits.
He was attacked viciously by the left, and I bet his personal safety would have been in jeopardy if it continued.
Just IMAGINE what will happen when we have ObamaCare and someone suggests to contain costs or pay for a provision.
What happened to Bunning is a foreshadowing of the strategy of the Liberals to gain power.
The Libs want everyone like little birds in the nest with their mouths open, while they decide who gets fed and when.
tatersalad on March 10, 2010 at 9:50 AM
Not only are the unemployed suffering due to this administrations actions and lack of action, but those with jobs have advancement stymied. Internal advancement may be possible in some cases, but looking for a better job with another employer is out of the question. Everything slows down while the job market is in limbo. If you leave your job for a better position, you open up your old job for someone else. How much potential income is also being lost while Obama dithers? Thanks for nothing.
On a side note, I’m glad Ed brought the guy in the yellow shirt back. He’s a nice backdrop for the redhead. Guess she got her phone charged backup.
CBP on March 10, 2010 at 9:51 AM
“Up to”. I love the weasel language. How about “somewhere between 1.6 million and negative 4 million jobs saved or created”
forest on March 10, 2010 at 9:52 AM
Why would lazy Americans be concerned about getting a job when the gubmint gives them unemployment checks forever, food stamps, stimulus funds so they can keep the house they can’t afford and is about to give them free healthcare.
Work for a living. R U Nuts?
fogw on March 10, 2010 at 9:52 AM
Chuck Schick on March 10, 2010 at 9:48 AM
I can’t believe she hasn’t got a job yet, isn’t Hooters hiring?
Then all is lost.
NoDonkey on March 10, 2010 at 9:53 AM
Uh she does not appear to be “fully” qualified for a spot at Hooters. Just sayin…..
Johnnyreb on March 10, 2010 at 9:54 AM
How can the U.S. break this Catch-22?
Have Congress go into recess for six months.
A Balrog of Morgoth on March 10, 2010 at 9:56 AM
If you want to really go crazy, try employing other people. Then, you’re a real masochist and Pelosi is the dominitrix.
NoDonkey on March 10, 2010 at 9:57 AM
The US economy lost 600,000 jobs the last month the previous guy was president. In 13 months we managed to reduce that number to 36,000; in other words, monthly job losses shrank by 94%. So run it by me again: what is it that you are blaming Obama for (other than instituting Socialism, aspiring to Nazism and banning fishing)?
factoid on March 10, 2010 at 9:57 AM
Pshaw. I saw an expert on CNBC claim the recession was over like a year ago and all systems are go for a booming economy. And the fact that CNBC is owned by NBC which is the parent company of MSNBC has nothing to do with anything.
angryed on March 10, 2010 at 9:57 AM
“Up to”. I love the weasel language. How about “somewhere between 1.6 million and negative 4 million jobs saved or created”
forest on March 10, 2010 at 9:52 AM
forest: Lol,weasel language!!:)
canopfor on March 10, 2010 at 9:58 AM
Johnnyreb on March 10, 2010 at 9:54 AM
You’re right. But she’s obviously qualified to be Squeaker of the House, is that position open soon (I hope).
NoDonkey on March 10, 2010 at 9:58 AM
Obama is going to learn the hard way that rebuilding an economy is a lot harder than destroying it.
I’m not waiting for Obama to fix anything. He can’t.
It’s his job to get out of the way and let us do what we do best.
Unfortunately he doesn’t seem willing to get out of the way.
cntrlfrk on March 10, 2010 at 9:58 AM
In previous decades, it has always been the US that comes out of these recessions first, and drags the rest of the world along with it.
Sad, but expectable, that this situation has now been reversed.
MarkTheGreat on March 10, 2010 at 9:59 AM
More good news for Democrats. Proud Rino told us back in October that 2010 will be a great year for Democrats because of unemployment.
He reasoned that people would vote for the party that promised them the most benefits in our nation’s hour of need.
I see the Dems picking up at least 15 seats in the House and probably 2-3 seats in the Senate.
/rose-colored leftist glasses
mankai on March 10, 2010 at 10:00 AM
NO! Put Congress on a six-month unpaid furlough. Let the politicians and all their staffs have to fend for themselves in the real world. Let them find out what it is like to be looking for a job in Obama’s economy. Let them send out e-mail after e-mail and get back nothing but pre-fromatted twaddle instead of a real answer. Let them figure out how to balance a checkbook.
highhopes on March 10, 2010 at 10:00 AM
Job losses from recessions usually turn around much more quickly than that, and we’re still in the negative. Could some of the things our current leaders are doing be suppressing a recovery in the job market? I think they are. Businesses are afraid to hire for good reason.
forest on March 10, 2010 at 10:01 AM
I think 0 should continue with his “I inherited this mess” because it is so true. It is not the inheritance, nor the mess, but WHO inherited it that continues to be the problem.
Oleta on March 10, 2010 at 10:01 AM
Sorry for hijacking this thread.. but how come no one is talking about… wait for it.. “Jihad Jane”
Talk about looking for a “job” – it looks like there are some jihadis looking for “jobs”.
My judgement : Obama needs to give another speech. not in Cairo.. but in Philadelphia – remember how his lovely preacher made him want a more “Perfect Union” some two years back ?
He probably needs to go back to Philadelphia again on the 2nd anniversary and talk about another “perfect union” between America and the Islamic world.
Maybe every one in America should have a national conversation about this. Btw, hows that conversation on race going Mr.Ozymandias ?
nagee76 on March 10, 2010 at 10:01 AM
Love the play on words, however, you have no idea how right you are!
milwife88 on March 10, 2010 at 10:01 AM
Eventually somebody is going to have to clean up the mess left by the filthy lying coward in the White House. It will not be an easy job.
highhopes on March 10, 2010 at 10:02 AM
Failed Bank List
===================
http://www.fdic.gov/bank/individual/failed/banklist.html
canopfor on March 10, 2010 at 10:02 AM
I hope i,m wrong but it looks like the high job lost has set in for a very long while.also just checked Rasmussen Obama job approval index is now -21 this ties his all time low looks like his job is in trouble also.God help us.
thmcbb on March 10, 2010 at 10:02 AM
Average unemploymeny rate for 8 years under Bush was about 5.5%.
So far the average under Obama is 9%+.
Only an idiot – or liberal, but I do repeat myself – can say Obama’s been better for the economy.
angryed on March 10, 2010 at 10:02 AM
Being a dumbass.
BTW …. 17 million unemployed. A minor fact you overlooked. But, of course, that has nothing to do with Obama. LOL.
fogw on March 10, 2010 at 10:03 AM
Failed Bank List
========================
ttp://www.fdic.gov/bank/individual/failed/banklist.html
canopfor on March 10, 2010 at 10:03 AM
El crapo,sorry,for the double post.
canopfor on March 10, 2010 at 10:04 AM
well if I cant earn enough for early early retirement with a Census job I guess it will be the fall back plan, blogging on the scifi/fantasy shows filmed in New Zealand..from New Zealand if things keep going this way…kiwi anyone?
ginaswo on March 10, 2010 at 10:04 AM
Or about Pelosi’s “We have to pass the bill so that you can see what is in it” comment. That bit of arrogance and lack of transparency should be played and replayed often.
highhopes on March 10, 2010 at 10:04 AM
At least there are few companies left making “obscene profits” or any profits at all. Now that is something to celebrate.
mankai on March 10, 2010 at 10:04 AM
I run a small business and hired new people every year for the past eight years. Under normal circumstances I would have hired a marketing person last year or this year, but with all the uncertainty, we’ve hunkered down. I have no idea what the cost will be for employees in the future, other than it will be significantly higher. Why take extra risk only to give it to our 40% partner (soon to be a bigger partner–the govt)
I wish everyone had to pay taxes quarterly–there would be a revolution.
phillypolitics on March 10, 2010 at 10:05 AM
The fact that businesses are running out of people to fire is not something for Obama to celebrate.
MarkTheGreat on March 10, 2010 at 10:05 AM
factoid on March 10, 2010 at 9:57 AM
Nonsense. The unemployment rate under Bush averaged under 6%. The last few months of his administration, were the result of the global recession exasperated by the idiotic policies of the Democrat Congress and the looming imposition of a socialist Congress/White House.
Other countries are pulling out of this recession faster than we are, because we have an unqualified dope in the Oval Office, whose agenda is a job killer. Period.
NoDonkey on March 10, 2010 at 10:05 AM
The redhead hasn’t been around for a while. She must have just come off one of those short-term temp jobs.
Devrbd on March 10, 2010 at 10:06 AM
Imagine all those racists out there. We should all be concerned. This bastard will ram (or is that Rahm) through the more radical aspects of his agenda if he doesn’t think he will have another term.
highhopes on March 10, 2010 at 10:07 AM
And wait till those evil Bush tax cuts end December 31… oh, 2011 will be a joy.
mankai on March 10, 2010 at 10:07 AM
Sorry for hijacking this thread.. but how come no one is talking about… wait for it.. “Jihad Jane”
nagee76 on March 10, 2010 at 10:01 AM
nagee76: Heard about that overnight!!
canopfor on March 10, 2010 at 10:07 AM
Darn! I thought maybe Hot Air was hiring.
zmdavid on March 10, 2010 at 10:09 AM
We have hope in 2011 because we can all agree that there will be less (hopefully far less) Democrats in office.
NoDonkey on March 10, 2010 at 10:09 AM
Like wearing a bunny suit?
highhopes on March 10, 2010 at 10:10 AM
That’s been our strategy for some time now Ed. We ship the world our jobs and borrow money from them, to support our fiat economy. It’s worked out well so far don’t you think?
What good is lowering taxes now? Our bubble economy was driven by credit card debt and home equity loans based on unrealistic valuations. Lower taxes now and people will use the money to pay debts not buy imported cheap goods. It is not the 80′s this time around.
DFCtomm on March 10, 2010 at 10:10 AM
It’s Obama’s Massa Plan.
TXUS on March 10, 2010 at 10:10 AM
This bastard will ram (or is that Rahm) through
highhopes on March 10, 2010 at 10:07 AM
highhopes: Me likey,your pun!:)
canopfor on March 10, 2010 at 10:11 AM
I must believe this is all by design…
Keemo on March 10, 2010 at 10:11 AM
Not really, all the big government contracts seem to be no-bid payoffs for supporting the filthy lying coward in the White House.
highhopes on March 10, 2010 at 10:12 AM
It’s Obama’s Massa Plan.
TXUS on March 10, 2010 at 10:10 AM
TXUS: Ahem,don`t ask,don`t tell,haha!:)
canopfor on March 10, 2010 at 10:12 AM
Why not? It’s fits perfectly with Obama’s policy of “Managed Decline”. As Dr. Zero said in early December:
Domestic morale has a considerable effect on the economy. Wrapped around the rocky core of commodities pricing and industrial capacity is a turbulent atmosphere of public opinion. When the emotional temperature of this atmosphere drops, the results are comparable to the failure of morale in wartime. The most powerful engine of capitalism does little good for a population too frightened and cynical to turn it on, just as potent weapons are useless to people afraid to draw them.
Buy Danish on March 10, 2010 at 10:14 AM
On schedule.
The plan is working fabulously.
notagool on March 10, 2010 at 10:14 AM
Yep, eliminate withholding and make folks pay write a check to pay their taxes periodically. Things would change in a hurry.
Midas on March 10, 2010 at 10:15 AM
I must believe this is all by design…
Keemo on March 10, 2010 at 10:11 AM
Keemo:Yup!:)
==========================
To build a lasting foundation for America’s economic prosperity and security, we’ll organize around the core challenges facing Americans and their families — energy, health care, and education. By acting together, we can overcome the obstacles that for too long have prevented real change on the critical issues that Americans face day in and day out. Now is the time to leave behind the status quo and build support for real solutions to ensure that President Obama succeeds in fulfilling the promise of change. Read more about the challenges we face and the solutions that will get us back on the road to long-term prosperity.
————————-
http://www.barackobama.com/issues/
canopfor on March 10, 2010 at 10:16 AM
Yep. Tax rates would never go above 10% if this were the case. But sadly the great unwashed think they pay $0 taxes since they get a refund every year.
angryed on March 10, 2010 at 10:18 AM
It’s a good thing my kid is fluent in CHinese as he’s leaving college this year. He might have to emigrate for work and THAT is a sad note. (me, my job is gone in 2 weeks, being replace with cheaper, younger labor.)
michaelo on March 10, 2010 at 10:19 AM
DFCtomm on March 10, 2010 at 10:10 AM
Nonsense. There are businesses across the nation that will not hire while the Insane Clown Posse holds the White House and Congress.
Who is going to hire when they have no idea what these jackasses will do next? The Squeaker of the House just said that we won’t find out what’s in the Health Care “Reform” Bill until it passes. Should businesses hire on that basis?
Cap and Trade. Card Check. All of these are jobs killers.
We’re not going to base an economy on “green jobs”, on carbon trading, on lawsuits, on delivering shoddy healthcare or on peddling t-shirts, which are the basis of which Democrats think we can be successful. They are wrong.
NoDonkey on March 10, 2010 at 10:20 AM
I don’t believe people consult CNN to determine their job security. We know when things are going badly at work. I’m in the situation at the moment. Are you doing a lot of busy work on the job? Have your hours been cut? We can sense when things aren’t going well.
DFCtomm on March 10, 2010 at 10:20 AM
the redhead…..still looking. Poor girl *sniff* hope she gets hired soon.
ted c on March 10, 2010 at 10:21 AM
I’m anxiously awaiting my year end tax bill. My wife took a marked turn to the right when she started doing my books a few years ago…
forest on March 10, 2010 at 10:22 AM
or a stormtrooper outfit. Just riding the train around town promoting the re-release of the star wars trilogy dvd box set.
Jobs.
ted c on March 10, 2010 at 10:22 AM
I agree that your listed causes are a problem, but remove them and all the fundamental problems are still there. Nothing has been done to fix the housing mess. We are in the process of attempting to blow another bubble even now. We still allow our trade partners to wage unfair free trade. The VAT inequality with Europe, and China’s currency pegging. Obama isn’t helping the situation, but this has been building for many years now.
DFCtomm on March 10, 2010 at 10:25 AM
And the states aren’t helping either. Mine is raising unemployment compensation tax rates on employers. that should help.
forest on March 10, 2010 at 10:29 AM
I agree and that’s confounding because here in Texas, it’s been done. They never allowed huge home equity loans and most of the other nonsense that happened across the country, so there was no bubble. Home prices are stable and we didn’t have the speculation and foreclosures the rest of the country experienced.
I do agree with your other points as well, although we are in such hock to China, how much leverage do we have there?
NoDonkey on March 10, 2010 at 10:30 AM
“Under my plan, unemployment rates will necessarily skyrocket.”
A lot of jobs are not coming back for the short to medium term. There is a glut of homes for sale from all the foreclosures; commercial real estate has record high (un)occupancy rates. The construction trade and building material industries that support them will thus remain anemic.
This is just one example.
GnuBreed on March 10, 2010 at 10:34 AM
I just get ticked hearing people claim that this is all sudden. The results are sudden, but the changes that led to those results were put in place many years ago. It’s time to reap what we sowed, and at this point there is no way to avoid pain. The question is how bad is it going to have to get before people begin to acknowledge and address the fundamental problems instead of the symptoms.
DFCtomm on March 10, 2010 at 10:35 AM
Letting Asia have the economic recovery is only fair since we were “not nice” to the Japanese during WWII. Fugheddaboud the fact that we rebuilt their country afterward and built their economy by allowing their imports to the U.S. which brought prosperity galore t them, even at our own expense. Once a racist, always a racist, right? We must atone, perpetually, for the sins of our fathers, grandfathers, greatgranfathers……. Don’t take my word for it. Ask Tom Hanks.
JimP on March 10, 2010 at 10:37 AM
Obamanomics is going to drive us right into a double dip recession. The November elections are going to be a Democratic bloodbath.
GarandFan on March 10, 2010 at 10:39 AM
Obamanomics, ensuring poverty while destroying wealth one lie at a time.
daesleeper on March 10, 2010 at 10:43 AM
Nonsense. Obamacare will be Rahmed through in the next couple of weeks. By November we will all be talking about what silly geese we were for doubting this administration and the Democrat Party. The economy will be booming. It will be a seller’s market for employment. The Dems will win in a landslide, giving President Obama an even bigger mandate to go out after the more controversial parts of his agenda.
highhopes on March 10, 2010 at 10:43 AM
There is no Obamanomics, any more than there was Bushonomics. It takes a high level degree in economics from an ivy league school to screw up the economy this badly. The Greenspan’s, Geitner’s, Paulson’s and Bernanke’s have created this mess.
DFCtomm on March 10, 2010 at 10:48 AM
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