Biden Predicts Job Growth Will Grow 250,000-500,000 Monthly

Biden Predicts Job Growth Will Grow 250,000-500,000 Monthly


WASHINGTON (Dow Jones)--Vice President Joe Biden on Friday predicted at a Pennsylvania fundraiser the economy would add between 250,000 and 500,000 jobs monthly starting in a few months, according to a report of the event.

Biden acknowledged he's "got in trouble" before for making job growth predictions but shrugged off such concerns. "Even some in the White House said, 'hey, don't get ahead of yourself,'" Biden began at a fundraiser for Democrat Mark Critz. "Well, I'm here to tell you some time in the next couple of months we're going to be creating between 250,000 jobs a month and 500,000 jobs a month."

He added, "Because I'm telling you something, folks. We caught a lot of bad breaks on the way down. We're going to catch a few good breaks because of good planning on the way up."

In November 2009, Biden predicted job growth would begin in February. But those predictions proved wrong. The economy lost jobs in February but did start adding jobs in March.

Biden was speaking at a former railroad terminal in Pennsylvania as part of a fund-raising event for Critz, who is running to fill the seat left by Rep. John Murtha, who died in February.


http://online.wsj.com/article/BT-CO-20100423-715223.html?mod=WSJ_latestheadlines

This is what the forecasting models tell us. He didn't pick those numbers out of thin air. If the models are correct we will be in good shape in November.

in a corner of one of my spare bedrooms respresents job creation. Nevermind the fact that it doesn't generate enough money to pay my most basic living expenses. Who needs jobs like that? And who needs to find themselves replacing a $75,000 annual salary with a $20,000 annual salary that carries no benefits?

I really don't expect that many real legitimate jobs to be created - and I certainly don't expect the jobs that are created to be quality jobs with good wages and benefits. But I do expect that there will be a whole lot of unemployed folks doing whatever they can to earn a few bucks - and I fully expect the dumbasses in Washington to be unable to distinguish the difference between that and real fucking job creation.

especially with the elections on the horizon. Better to allow the jobs to be created and then take the bows.

It seems like too often Biden's mouth gets ahead of his brain.

A chicken in every pot and a new car in every garage.

I imagine that kind of prediction, (where did I put my crystal ball?) is stimulating and can boost the candidate's PR and donations.

What concerns me is the mechanics of job creation in this case. In order for companies to stop sitting on their amazing profits they need demand. Demand can only be had either by rip-roaring consumers or by markets abroad.

We know that here, rip-roaring consumers require conditions that will allow them to spend, spend, spend. Due to largely flat wages over the last 30-years, credit cards and equity loans were the coincidental means by which to procure discretionary spending money. With wages and hours going down and credit going South, how is it possible to get that vicious circle turning again, (not that I think that rabid consumerism is appropriate)? Jobs that merely and barely pay the bills each month do not a recovery make in a consumer-driven, profit-oriented, capitalistic society. Yet, profit can be had from the basics and the ups and downs that the working poor experience.

When I see the Grand Vizeers illustrate their predictions, then I might not see their prognostications as pure politics and manipulation of the masses, which is currently rampant as media and government contain and steer the critical issues that signify a systemic collapse.

As one learns in journalism, the questions are: who, what, where, when and why?

I've been unemployed for a year now, I'm right tired of it. =(

I'm not sure how anyone could be against this or say anything bad about it if it does in fact happen. But I'm sure they'll find a way.

since you are asking about bad things about it. A potential bad thing is they will be temp jobs which have no security or benefits. I think that is a really fast growing area right now. Employers are adding temp workers who make decent wages but get no benefits (paid vacation, paid sick days, health care, pensions, 401k, profit sharing, etc), and no real job security or long term security.

Recently the jobs at the census were counted as part of the 'economic turnaround'. Census jobs aren't bad, but adding tens of thousands of jobs that are part time and will disappear in 2 months isn't the same as adding jobs that are full time, have benefits and are reliable.

So new jobs will come. However if they are all temp jobs, low wage service sector jobs or part time/short term contracts people aren't going to be giddy that those replaced the 10 million full time jobs with benefits that we lost.