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The following comes to you courtesy of rightchristians
It is all of that, but I’d go one step further: flatlined jobs are exactly what Bush wants. To them, the chart above represents a policy success. (Krugman’s outraged that they’re lying about it, but we expect that.)
It’s all part of keeping people in fear. Flatlining jobs, keeping the labor market as awful as it is, with no relief in sight, is the modern day equivalent of the overseer’s lash on the slave’s back.
Is it any wonder that people are more productive? They work harder because they’re in fear! They worker harder when the only benefit of being more productive is not losing their job! Same deal with trashing overtime protection, letting health care costs rise and rise, and gutting any workplace protections. No benefit to people at all. Just a touch of the lash.
Notice that the February 2004 forecast, which, as in previous years, is based on data only through the preceding October, is already 900,000 jobs too high.
The Bushogarchy versus America
The state of the economy is exactly the way Bush wants it. They changed the rules, as with everything else.
For two years now, productivity growth, a measure of how much workers produce per hour, has been at historic highs as companies rely on squeezing their existing employees to meet demand, rather than hiring more workers.