Mangonomics

Wisconsin's own Mike Darda has another good column over at National Review Online.

Another Pro-Growth Jobs Report
The labor-market recovery is deepening and broadening. Congress should take note.
By Michael T. Darda

The economic malcontents scored a one-round victory after the release of the GDP report for the fourth quarter of 2005, which showed the economy only expanding by 1.1 percent at an annual rate. But January’s non-farm payrolls report, which showed three-month job growth snapping back to nearly 230,000, has promptly put the pessimists back on the ropes.

At the time the sloppy GDP report was released, I argued that one-off factors — such as a drop in auto production and sales and a contraction in government spending — were the proximate cause for the weak reading and were not a harbinger of the future. Other high-frequency data such as business-equipment and high-tech output, as well as non-defense capital-goods shipments and orders, all boomed during the fourth quarter.