Monday, July 7, 2014

Pundit Declares Republican Victory in June Jobs Report

The recent jobs report for the country was mildly uplifting, causing the media and democratic spokesmen, but I repeat, to claim victory for the president job plans:
A surprisingly robust job market is energizing the 5-year-old U.S. recovery and driving the economy closer to full health.

Employers added 288,000 jobs in June and helped cut the unemployment rate to 6.1 percent, the lowest since 2008. It was the fifth straight gain above 200,000 — the best such stretch since the late 1990s tech boom.

The stock market signaled its approval. The Dow Jones industrial average surged 92 points to top 17,000 for the first time.
However, as pointed out by Charles Krauthammer, the uplift occurred after the House Republicans forced an end to extended unemployment benefits, which Democrats warned would cause mass starvation in the streets:



Shockingly it appears that once they cut off from extended unemployment benefits some substantial number of people found the motivation to go out and find jobs.

I like to look at human behavior regarding jobs in terms of what biologists like to call "Optimal Foraging Theory:"
Optimal foraging theory is an idea in ecology based on the study of foraging behavior and states that organisms forage in such a way as to maximize their net energy intake per unit time. In other words, they behave in such a way as to find, capture and consume food containing the most calories while expending the least amount of time possible in doing so. The understanding of many ecological concepts such as adaptation, energy flow and competition hinges on the ability to comprehend what food items animals select, and why.
Substitute money and benefits for food and calories, and you have a very accurate description of how human economies function.

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