Yesterday I caught Lou Dobbs on CNN for the first time in months. Every time he worked his opinion about jobs into the conversation, he had the same look of contemptuous disgust on his face as he's had for a long time now. His unsurprising message, communicated in no uncertain terms via words and body language: Those evil old US corporations (full of "idiots") are still exporting high-paying jobs from America to the Asian communists.
Sadly, it was the same message I'd expected to hear from him. But I remain optimistic: I keep hoping someday Lou Dobbs will surprise me, and actually take a look at the employment numbers in a little more detail before deciding whether the companies driving our economy are still worthy of his contempt and disgust. That's why I plan to continue sampling his show on CNN frequently—specifically, every four months or so—before switching back to a more objective (and pleasant, and educational) experience with Larry Kudlow on CNBC—which I try to catch every weekday at 7pm Eastern, 6pm Central.
With that plan in mind, I added a "Lou Dobbs information box" on this month's employment chart. Do you think it will do any good? In any case, below are the latest jobs numbers from the Bureau of Labor Statistics. The economy added 1.38 million jobs (private nonfarm). Lou Dobbs's favorite categories to flog, manufacturing and construction, "lost" 322,200 jobs that paid an average of $18.88/hr. Happily, the companies driving our economy added 586,500 jobs that pay more than that ($20.55/hr avg), and also added 1,114,400 other jobs averaging $15.06/hr. If those numbers aren't good enough, it makes one wonder what the numbers would have to be to deserve a smile instead of a sneer, doesn't it?