Yup, John Boehner and Paul Ryan Are Right: The economy contracted in the fourth quarter because #spendingstheproblem and Keynesian Economics Doesn’t Work.
Construction has been one of the more encouraging sectors, adding jobs each of the last four months. The hiring there was probably because of a combination of rebuilding from Hurricane Sandy, unseasonably warm weather that led to fewer work stoppages, and the nascent housing recovery, said Ian Shepherdson, chief economist at Pantheon Macroeconomic Advisors.
Retailing, health care and the wholesale trade also added positions in January, while the government again shed jobs. Government payrolls have been shrinking most months over the last four years.
– Job Growth Is Steady Amid Snags Holding Back Economy, Catherine Rampell, New York Times, today