Obama Bad for Business? His major Corporate Enemies and whiners are riding the “fastest rebound since the late 40’s.”

With an average 10 percent increase in earnings through 2013, and the Bush tax cuts extended two more years, where are the job creators…jobs?

Thank god we have the GOP coming to the rescue before the entire economy crashes?

Bloomberg News: Profits at American companies are poised to be one of the few bright spots in the U.S. … Earnings will climb an average 10 percent a year through 2013, more than three times quicker than the economy, after what has already been the fastest rebound since the late 1940s, JPMorgan Chase & Co. projects.

A survey of 99 companies completed June 6 showed businesses are more optimistic about capital spending for this year than they’ve been since records began in 2003, according to a report from ISI Group Inc. in New York. Hiring plans were the highest in five years. Operating profits increased a cumulative 44 percent since the recovery began, six times faster than the 7 percent rise in nominal GDP.

But what about jobs? The following makes it quite clear why unions have been so pivotal in the creation of middle class wages.

Seven quarters after the recession ended, labor costs are running 2.3 percent below the second quarter of 2009 … In the nine other postwar recoveries, labor costs rose by an average 2.7 percent in the same period.

“Employment growth will gradually get better, but the increase in wages for each worker will remain weak,” Robert Mellman, an economist at JPMorgan said. Unemployment exceeding 9 percent and a pool of almost 14 million Americans without a job give workers little leeway to ask for higher pay. “With increasing profits and a lower jobless rate, at some point wages start to go up as workers get more bargaining power,” Mellman said. “But we’re probably a few years away from that.”