WSJ: Why unemployment is not coming down
Two noteable things that were brought up in the interview about the economy.
- At this stage in the Reagan recovery, we had 8% growth
- It takes at least 3% growth to maintain our 9.6% employment rate, we will not get a meaningful increase of jobs unless we get growth first
- Protectionism is a major issue for this congress. In order to approve the pending trade deals, i.e. Panama, Colombia and South Korea, President Obama needs to send the bill fast track. Since Obama is not a big fan of free trade, that is likely not to happen