Just who is this Bob Stein, and why is he sullying the august pixels of National Review Online with his Obama-loving and his insistence that job numbers are improving? Perhaps he would like to MOVE BACK TO CUBA, COMMIE! Here, let us read the first comment on Mr. “Stein”‘s disgusting, America-hating post together.
Bob, does the Obama campaign pay you by the word, or are you on a flat retainer? The one word that springs to mind when I read anything you write is “giddy”. I wonder if the 550K who left the labor force since January are as optimistic about our economy as you always seem to be? Probably not, eh?
And here, let us read the second!
I’m sorry, you should have turned left, that would have gotten you to the Huffington Post. This is National Review Online, we don’t need pro-Obama spin here.
Yeah, FUCK YOU, BOB STEIN, with your ‘litest “numbers” and “maths”! What has infuriated these wingnuts so? Everything. What else?
The headline payroll numbers fell short of consensus expectations in April, rising 115,000 overall and 130,000 for the private sector. However, the Labor Department once again made large upward revisions to prior months. Including these revisions, nonfarm payrolls were up 168,000 and private payrolls were up 196,000, both beating consensus expectations.
Some analysts ignore these revisions, but we think that’s a big mistake. Normal monthly revisions to the original payroll report have now been positive for ten straight months and have averaged about 40,000 per month during this period. As a result, without revisions, analysts have a systematically and downwardly biased impression about the job market.
Meanwhile, some analysts may discount the drop in the unemployment rate to 8.1 percent, given that the drop was due to a decline in the labor force. However, in the past year, the unemployment rate has dropped 0.9 percentage points (from 9 percent in April 2011), while the labor force has grown 700,000. In other words, the trend of decline in the jobless rate in the past year is not due to fewer people looking for work.
NOT ONLY does Bob Stein say those terrible things, but he then throws around phrases like “another piece of good news” and “the fact that we’re not there yet should not prevent us from recognizing the progress that we’re making.” Who is this terrible
Immediately prior to joining First Trust, Mr. Stein was Assistant Secretary for Economic Policy at the U.S. Treasury Department. At the Treasury Department, Mr. Stein was responsible for briefing the Secretary of the Treasury on U.S. macroeconomic developments and formulating policy proposals. Day to day, Mr. Stein was responsible for leading a team of twenty economists conducting in-depth economic analysis and research.
Between 1996 and 2002 Mr. Stein was chief economist for the Senate Budget Committee on Capitol Hill and an economist for the Senate Banking Committee and Joint Economic Committee. Prior to his tenure on Capitol Hill and the Treasury Department, Bob was a journalist for Investor’s Business Daily, where he covered the economy and authored many front page articles.
So he is just your typical idiot, basically. Next he is going to tell NRO readers that gas prices are falling too. Keep that Kevlar handy, “Stein.” [NRO]