AP: Employers went on a hiring spree in January and drove down the unemployment rate for a fifth straight month to 8.3 percent, its lowest point in nearly three years.
The result pointed to a resurgent job market, and it sent stock futures surging. The Dow Jones industrial average futures, which were flat before the report, jumped more than 100 points.
The economy created 243,000 net jobs in January, the most in nine months, and the unemployment rate fell two ticks.
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OFA
Steve Benen: ….. it’s hard not to feel good about the surprising strength of this new report …. this is one of the best - if not the very best - jobs reports since the recession began four years ago.
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White House Live
Washington Post: President Obama will announce details Friday for a $1 billion Veterans Job Corps that the White House says will put up to 20,000 veterans to work over the next five years on projects to preserve and restore national parks and other federal, state and local lands.
….. Obama proposed the corps in his State of the Union address last month, describing it as “enlisting our veterans in the work of rebuilding our nation.”
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From the White House: “President Obama and the First Lady will welcome Prime Minister David Cameron of the United Kingdom of Great Britain and Northern Ireland and his wife, Samantha Cameron, to the White House for an Official Visit with a State Dinner on March 13-14, 2012….”.
President Obama speaks during a news conference on Republican obstruction of Richard Cordray’s nomination to head the CFPB, Dec 8
Steve Benen: Two months after the Senate Banking Committee approved Richard Cordray as the new director of the Consumer Financial Protection Bureau, the Senate leadership brought the nomination to the floor this morning. Republicans refused to allow a vote …. It’s hard to overstate how outrageous today’s filibuster really is.
…. It’s all part of the normalization of extortion politics. Traditionally, if the GOP wanted to alter the powers of the CFPB, it would write legislation, send it to committee, bring it to the floor, send it to the other chamber, etc. But that takes time and effort, and might not work. Instead, we see the latest in a series of GOP extortion strategies: Republicans will force Democrats to accept changes to the agency, or Republicans won’t allow the agency to meet its legal mandate…..
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Washington Post
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The President is pre-taping interviews with WISH (Indianapolis, IN), KSNV (Las Vegas, NV), WREG (Memphis, TN) and WCHS (Portland, ME) today
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Steve Benen: We generally look to the first Friday of every month for new unemployment figures from the Bureau of Labor Statistics, but every Thursday morning, the Department of Labor releases a report on initial unemployment claims.
And this morning, the news is very good:
The number of people filing for state unemployment benefits for the first time fell 23,000 to the lowest level since late February, the government said Thursday. The Labor Department said claims fell to a seasonally adjusted 381,000 last week. The level of initial claims in the week ended Nov. 26 was revised up by 2,000 to 404,000.
The consensus expectations were for a slight drop, which makes the sharp drop that much more encouraging…..
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You can never see this enough:
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Steve Benen: Politico has a piece today on Senate Democrats’ outrage over Republican obstructionism, as evidenced by Tuesday’s filibuster of judicial nominee Caitlin Halligan and today’s expected filibuster of CFPB nominee Richard Cordray. As Dems see it, GOP abuses are setting a new standard — which Democrats will take advantage of the next time they’re in the minority.
…. Republicans respond that these current tactics aren’t new, and the Politico article tells readers the GOP argument is sound.
…. This isn’t a subjective question on which the parties are entitled to different opinions. There are objective, often quantifiable, answers to the points Politico and Republicans are raising: are GOP senators “replicating” Democratic tactics? Were Dems abusing Senate rules in the Bush era to the same degree that Republicans are abusing them now?
The answer to both is “no,” and the false equivalence does little to advance the discussion.
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Oh Willard…..
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Steve Benen: Most of the Affordable Care Act won’t take effect for a few years - and if court rulings and the 2012 elections go a certain way, it may not take effect at all - but there’s already evidence that the reform law is working.
It’s making a big difference in providing coverage for young adults; it’s providing treatment options for women like Spike Dolomite Ward; and it’s slowing the growth in Medicare spending.
It’s also, as Jonathan Cohn explained, saving seniors quite a bit of money on prescription medication…..
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Boston Herald
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TPM
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President Barack Obama and Canadian Prime Minister Stephen Harper arrive to speak in the South Court Auditorium on the White House, Dec. 7
President Barack Obama and Prime Minister Stephen Harper of Canada talk backstage at the South Court Auditorium in the Eisenhower Executive Office Building following their joint press conference, Dec. 7, 2011. (Official White House Photo by Pete Souza)
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Rolling Stone
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TPM: Details of Stephen Colbert’s “South Carolina Serious, Classy Republican Debate” are becoming more clear. Kind of…
“It’s happening, we’re doing it, we’ve set the date in stone, sometime in January,” Colbert said. “It’s going to be on Animal Planet. They haven’t returned my call yet.”
More here (plus video)
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CBS: President Barack Obama will appear on “60 Minutes” in an interview with Steve Kroft to be broadcast Sunday, Dec. 11 at 7 p.m. ET/PT.
Steve Kroft interviewed the president on Tuesday in Kansas after he delivered an economic speech in the small town of Osawatomie. President Obama will talk to Kroft again tomorrow at the White House for Sunday’s report.
President Obama and Prime Minister David Cameron visited a local school in London to play table tennis and review several school design projects, including one the students called “Dish Dash” - a carryout box that folds out into a bowl or plate and then back again.
When a teacher suggested that the students needed an investor and offered a British name, the president had a different idea.
“Or Donald Trump in the U.S. I have a connection with him,” Obama said, gesturing with his two fingers as if to say he and Trump, his one-time nemesis, see eye-to-eye.
Governor Nikki Haley speaks during a meeting of the Tea Party in Columbia Thursday night at the Statehouse. A.L. Geddings and Louise Geddings of Columbia were representative of the low turnout.
The State: The Columbia Tea Party went from Donald Trump to jilted chump after the celebrity businessman canceled his appearance at Thursday’s State House rally, and state legislators approved tax breaks and spending that the group opposed.
Trump’s decision to not enter the GOP presidential race left local Tea Party leaders stewing about the way they had been treated. But about 30 people were on hand Thursday to thank Gov. Nikki Haley, lawmakers and activists for their work to require more on-the-record Legislative votes.
It was all part of a tough week for the state’s Tea Party movement.…
Columbia Tea Party chairman Allen Olson expected as many as 2,000 would have attended Thursday’s rally had Trump been there. But The Donald, a favorite of many who attended the group’s Tax Day rally with U.S. Rep. Michele Bachmann elected to not run and dropped the rally from his schedule.
“It was a kick in the gut, but it gives you a chance to regroup,” said Olson.
White House.gov