Michelle Jamrisko at Bloomberg reports:

Companies added fewer workers than projected in March, held back by limited hiring in construction, according to a private report based on payrolls.

Americans have learned to expect these less-than-expected results from an economy that continues to flounder. Especially discouraging is the fact that, according to Mark Zandi, chief economist at Moody’s Analytics Inc., “Payrolls at construction companies stagnated last month as the boost from rebuilding efforts following superstorm Sandy faded ...”

Mercifully, we cannot depend on monster storms like Sandy to stimulate growth and hiring. And, anyway, Monsieur Bastiat long ago demonstrated the fallacy in that line of thinking. So slow growth and high unemployment begin to seem like a permanent condition for which the Obama administration's solution is ...

More fundraising—so as to conduct a more or less permanent political campaign. According to Justin Sink, reporting in the HIll:

The president will head to San Francisco Wednesday evening after a stop in Colorado, where he plans to hold an event to rally support for congressional action on new gun-control laws. In California, Obama will attend a $5,000-per-person cocktail reception and a $32,500-per-person dinner, with proceeds from both benefiting the Democratic Congressional Campaign Committee.

So, we are living in a time of the permanent political campaign and never-ending economic stagnation.


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