Job creation in the US is grinding to a halt. That is the clear direction of the job numbers released today showing 142,000 jobs created last month and reduced earlier numbers by 58,000. Net-net, the figures show 84,000 new jobs created for the month of September. It doesn't get much worse than that for an economy, not yet in recession.
These pitiful economic numbers are the natural outcome of the economic policies of the Obama Administration that focus upon increases in taxes and regulations. Cheerleaders for the Obama Administration in the media were expecting 200.000 or more new jobs. The actual reported number, after corrections, was 40 percent lower than media expectations. That tells you how accurate Obama cheerleaders are at forecasting economic numbers.
Sadly, the situation is not temporary. This is the new world order. Europe killed off economic growth decades ago; the US is a late comer to the party. But now, both Europe and the US have bought into the constant economic pie plan and numbers show it.
Those on the stagecoach have nothing to fear. Bureaucrats will continue to see their income rise and the wealthy will do fine in the stagnant economy. The middle income and below will struggle and find their standard of living declining. Big government is the winner -- the average American will be the loser.
No surprises here.