61K Canadian Jobs Shed In March

by matttbastard

wheeeeeeeeeeeeeee

Another month, another round of massive job losses in Canada:

Canada is shedding jobs at a rate not seen since the deep recession of the early 1980s, as March saw another 61,300 workers join the ballooning ranks of the unemployed.

The loss brought Canada’s official unemployment rate to eight per cent, the worst in seven years.

Statistics Canada noted that since the peak in October, employment has fallen each month for a total of 357,000, representing 2.1 per cent of the work force. That is the most since 1982.

[…]

Economists had been expecting another poor jobs report with about 55,000 jobs lost.

But the reality was slightly worse, and much worse if the 18,200 jobs increase in part-time work were taken out.

Rising part-time work at a time of falling employment is usually an indicator that Canadians are settling for whatever jobs they can find. Among full-time workers, the contraction in employment was another outsized 79,500 in March.

So.  As Uncle Steve and the Harpercons sadly continue to lose their shit, the Canadian job market keeps hemorrhaging. And, waiting in the wings, we have Iggy and the Torie-lites, ready to save us all by doing, er, pretty much the same bullshit Harper and Co. have been doing, only with less asshattery, sweatervests and painfully-forced smiles.

We are so fucked.

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Losing the Forest Behind the Trees

by matttbastard

Via Memeorandum, some of the other progressive bloggers highlighting McHenry’s statement seem to be primarily concerned with how the Dem0cratic leadership in Congress can use the GOP’s apparent lack of ‘discipline’ to partisan advantage. Yeah, um, so what does the obstruction uber alles strategy mean for the economic health of the fucking nation and world, to ordinary people worried about the future?

We’re talking 4.4 million US jobs lost since the recession began (with more losses almost guaranteed to occur), further bank failures, potential state government bankruptcies. And yet it’s still all about scoring points and the perpetual fucking horse race?

Really?

This isn’t a fucking game; this is class warfare, kids.

Sharpen the goddamn fucking pitchforks.

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GOP Rep. Patrick McHenry: Sabotaging the Future is SOP

by matttbastard

Greg Sargent notes that House Taliban lieutenant Rep. Patrick McHenry has finally given voice to the blatantly obvious motivation driving the GOP obstruction uber alles strategy:

McHenry’s description is buried in this new article from National Journal (sub. only):

“We will lose on legislation. But we will win the message war every day, and every week, until November 2010,” said Rep. Patrick McHenry, R-N.C., an outspoken conservative who has participated on the GOP message teams. “Our goal is to bring down approval numbers for [Speaker Nancy] Pelosi and for House Democrats. That will take repetition. This is a marathon, not a sprint.”

McHenry’s spokesperson, Brock McCleary, tells me his boss is standing by the quote.

Of course McHenry is standing by the quote.  The leaderless GOP insurgency has nothing left in its depleted arsenal except recycled guerrilla tactics, the ideological equivalent of roadside IEDs.  They are literally betting the House on the efficacy of this strategy.

And, as D-Day notes, the asymmetrical campaign goes beyond mere electoral gain:

Over the long term, all [Congressional Republicans] are doing is chipping away at the notion that government can perform its core function, demonizing the activities of the Congress, evoking mistrust in elected officials, and poisoning the whole notion of federal spending. That’s their REAL project.

Which makes one wonder if yesterday’s stark warning from Paul Krugman should perhaps be heeded by the blog-averse POTUS:

So here’s the picture that scares me: It’s September 2009, the unemployment rate has passed 9 percent, and despite the early round of stimulus spending it’s still headed up. Mr. Obama finally concedes that a bigger stimulus is needed.

But he can’t get his new plan through Congress because approval for his economic policies has plummeted, partly because his policies are seen to have failed, partly because job-creation policies are conflated in the public mind with deeply unpopular bank bailouts. And as a result, the recession rages on, unchecked.

Bottom line is this: The GOP is perfectly willing to sacrifice the economic solvency of the United States–of the entire fucking world–simply to gain a few seats in 2010–and, in the process, will do whatever it takes to guarantee the fulfilment of its by-now tired contention that public investment never, ever works.

Frank Schaeffer is absolutely correct:

[T]he Republican Party has become the party of obstruction at just the time when all Americans should be pulling together for the good of our country. Instead, Republicans are today’s fifth column sabotaging American renewal.

Sharpen the pitchforks.

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651,000 US Jobs Lost in February; Unemployment Rate Now at 8.1%

by matttbastard

Yep, it’s that time of the month again, kids:

U.S. employers axed 651,000 jobs in February, pushing the unemployment rate to its highest in 25 years, as companies buckled under the strain of a recession that is showing no signs of ending, according to a government report.

[…]

The Labor Department on Friday said the unemployment rate surged to 8.1 percent in February, the highest level since December 1983. That was above market forecasts for a rise to 7.9 from January’s 7.6 percent.

Oh, and about the figures for December and January:

January’s job cuts were revised to show a steep decline of 655,000, while December’s payrolls losses were adjusted to 681,000, the deepest since October 1949. Since the start of the recession in December 2007, the economy has purged 4.4 million jobs, with more than half occurring in the last 4 months.

Y’know, at this point, I might as well just do up a template for posts on the monthly US job figures report.  The latest numbers always seem to be the highest in umpteen years, with a swift recovery less likely than the possibility of Keith Olbermann STFUing about Rush Limbaugh any time soon. (Dude? Seriously? STFU about Rush Limbaugh.  The obsession has going beyond grudgewank, beyond drama-humping, to fucking pathological.  You need help–a 12 step program of recovery, to quote the best RNC chair EVA.)

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Perspective.

by matttbastard

I  stand by my previously expressed policy objections to the compromised Senate version of the recovery plan. I also still think the ‘moderate’ Kabuki performance that apparently trumped the real-world consequences of cutting funds to the states was despicable (but, hey, as long as the ‘workhorses’ keep garnering kudos from the Village).  Hopefully a lot of what was stripped from the bill is put back in when it goes to conference committee.

With that said, the following graphic illustrates why, considering how urgent it is to pass a recovery plan as soon as possible,  something is better than nothing (literally):

jobs

(h/t)

Related: Americans United for Change launch radio ads praising Susan Collins, Arlen Specter, Ben Nelson and Olympia Snowe  for “providing the leadership we need to get the job done” and helping the Senate “reach agreement on a plan that has support from a broad range of groups — including the US Chamber of Commerce and organized labor.”

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Thanks For Nothing (Bipartisan Bullshittery Edition)

by matttbastard

So, after having “cut some stuff just to say that they had cut some stuff” from President Obama’s recovery plan, as publius aptly summed up last night’s contentious-yet-self-congratulatory bipartisan circle jerk, what exactly are we (the people) left with?

Paul Krugman:

[T]he centrists have shaved off $86 billion in spending — much of it among the most effective and most needed parts of the plan. In particular, aid to state governments, which are in desperate straits, is both fast — because it prevents spending cuts rather than having to start up new projects — and effective, because it would in fact be spent; plus state and local governments are cutting back on essentials, so the social value of this spending would be high. But in the name of mighty centrism, $40 billion of that aid has been cut out.

My first cut says that the changes to the Senate bill will ensure that we have at least 600,000 fewer Americans employed over the next two years.

Heck of a motherfucking job, kiddies.

h/t Joe Trippi via Twitter

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U.S. Senate Reaches Tenative Deal on Recovery Package. Yay?

by matttbastard

Oh, joy — ‘moderation’ once again rules the day in Washington:

U.S. senators began debate on a massive economic-recovery package Friday evening, after a working coalition of Democrats and some Republicans reached a compromise that trimmed billions in spending from an earlier version.

[…]

The movement came after days of private meetings between centrist Democrats and Republicans who felt the price tag on the Senate’s nearly $900 billion version of the package was too much.

“There is a winner tonight,” said Sen. Joe Lieberman, an independent from Connecticut and one of the moderates whose support was crucial in building support for the plan. “It’s the American people and they deserve it.”

[…]

Sen. Ben Nelson, a Democrat from Nebraska and one of the chief negotiators of the plan, said senators had trimmed the plan to $827 billion in tax cuts and spending on infrastructure, housing and other programs that would create or save jobs.

“We trimmed the fat, fried the bacon and milked the sacred cows,” Nelson said as debate began.

But, as John Nichols points out:

[I]n order to get two Republican votes (those of Susan Collins of Maine and Arlen Specter of Pennsylvania) that were needed to break a threatened GOP filibuster, [Senate Majority Leader Harry] Reid surrendered an estimated $110 billion is proposed stimulus spending. In doing so, they cut not just fat but bone.

Fat, bone and taxes–Nichols reports that tax cuts now account for “40 percent of the overall cost of the package,” a counterproductive conciliatory gesture that Nichols warns “will do little or nothing to stimulate job creation for a country than lost almost 600,000 positions in January alone.”

Just how much bone was shaved off to prevent a (potential!) GOP filibuster?

The bottom line is that, under the Senate plan:

* States will get less aid.

* Schools will get less help.

* Job creation programs will be less well funded.

* Preparations to combat potential public health disasters — which could put the final nail in the economy’s coffin — will not be made.

In every sense, the Senate plan moves in the wrong direction.

At a time when smart economists are saying that a bigger, bolder stimulus plan is needed, Senate Democrats and a few moderate Republicans have agreed to a smaller, weaker initiative.

Something may indeed be better than nothing, and politics is nothing if not the art of the compromise, but, like Nichols, I’m finding it difficult to join in on the bipartisan fetish party. As President Obama aptly put it this past Thursday while rhetorically addressing “critics who complain ” “this is not a stimulus bill, this is a spending bill,’ What do you think a stimulus is [emph. mine]? That’s the whole point. No, seriously, that’s the point.””

Well, apparently the President’s point was a bit too fine for the “moderates” in the Senate to fully appreciate. Perhaps Steven Pearlstein’s modest proposal to provide lawmakers with “economic personal trainers” should be seriously considered when the freshly-‘moderated’ recovery plan finally makes it to conference committee.

Related: Congressional Quarterly runs down the various amendments that were voted on throughout Friday evening. My personal favourite: David Vitter’s ultimately unsuccessful attempt to keep funds away from those evil Marxists in ACORN (SHRIEK!)

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