On Saturday, Larry Kudlow posted an article at the Daily Caller about the unemployment numbers for January that were released on Friday. According to Bureau of Labor Statistics, the blizzards across America caused 886,000 workers to report "not at work due to bad weather." In past years the average for January was about 300,000. The numbers released also report a 4.9 million jump in the part-time workforce.
Mr. Kudlow reports that numbers from the Institute for Supply Management (ISM) are consistent with the government's report that Manufacturing jobs in the United States rose 50,000 in January. The numbers also show that average hourly earnings increased by four-tenths of 1 percent.
Mr. Kudlow states that he believes that the economic recovery is happening, regardless of the continuing high unemployment numbers. He also points out that the numbers released show increased inflation pressure. The price of oil has recently increased and the price of groceries is also climbing. Those two items could seriously hinder a return to economic growth.
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