Bloomberg – U.S. employers won’t hire enough workers this year to lower the jobless rate much below the level of 9.7 percent reached in February, three Obama administration economic officials said today. The proportion of Americans who can’t find work is likely to “remain elevated for an extended period,” Treasury Secretary Timothy F. Geithner, White House budget director Peter Orszag and Christina Romer, chairman of the Council of Economic Advisers, said in a joint statement. The officials said unemployment may even rise “slightly” over the next few months as discouraged workers start job-hunting again. “We do not expect further declines in unemployment this year,” the officials said in testimony prepared for the House Appropriations Committee.
That’s a hell of a statement to be making in March. Maybe the Administration ought to try, just for variety, to push some measures that will help people find jobs (or just get the government the hell out of the way!) instead of pushing one job-killing bill after another (the health scare bill, of course, being one of the biggest killers of jobs – and people – of all). And yet, even though the administration is coming right out and saying this, why do I suspect that the media will continue to be “surprised”, each and every single month, to see unemployment continue to rise just as it has done month after month beforehand? (H/T: Bulgar Wheat)