My friend and Kauffman colleague Carl Schramm was at President Obama’s job summit yesterday in Washington. Among many other things, he tells me the Wall Street Journal “startup visa” OpEd from earlier this week that I wrote with Brad Feld was discussed, as was some of my recent mulling about reinvigorating the venture capital market. Gosh, I’m blushing.
More seriously, I know the event had many skeptics, but it sounds like it was reasonably frank and direct, and that it came with a good exchange of ideas among the administration, business and attending economists. That is about as you can hope for in such things. Anyone expecting more will always be disappointed, but it sounds like those expecting less should be disappointed too.
Following on the jobs, jobs, jobs message, today’s -11,000 number for November job losses is well under the -120,000 consensus. When I wrote last weekend that I expected the number to come in below consensus — on the back of some economic firming, but mostly on stimulus — I wasn’t expecting this far below. But then again, while it’s a big difference as a percentage, it’s not that big as in round numbers in an economy this large. It is, however, a continuation of the recent trend toward stabilization, albeit at high levels of unemployment.