national jobless rate for December dropped to 9.4% from 9.8% the previous
month. Unfortunately, the decline in
jobless claims only dropped because 260,000 American job seekers stopped looking
for employment last month. December was
the 20th month in a row that the unemployment has been above 9%,
which is a post World War II record!
economy created 103,000 new payroll jobs in December, well below the
150,000-plus jobs most economists predicted.
Of more than the 14.5 million people out of work in December, more than
6.4 million have been out of work for 6-months or longer. The mean length of time for the unemployed
rose for the third straight month, to 34.2 weeks.
Add in those
that stopped looking for work and others that work part-time, but still want to
work full-time, and the unemployment figure soars to 26.1 millions unemployed;
a jobless rate of 16.7%. That’s a whole
lot of people that are underemployed and unemployed in this country.
Administration celebrated the small decrease in unemployment as a victory of
growth of out economy. Yet, Ben Bernake
said, “The unemployment rate will probably fall slowly, even with a pick-up in
federal officials, it could take 4-5 years for the job market to normalize.”
not good news for our economy and the unemployed in this country. Job creation is not keeping pace with the
people entering the workforce, everyday.
The jobs available do not bode well for sustained growth.
opinion, jobs will not be created by increased taxes, more bailout packages,
our government buying treasury bills, and subsidizing struggling
industries. Rather, they will be created
by cutting taxes, minimizing federal regulations, and encouraging banks to loan
money to small businesses and home buyers and is a better answer to stimulating
federal government is taking money from the private sector through its
irresponsible spending and trillion dollar deficits that could lead to a “deficit
bubble”, which will pull our economy into a deeper recession. The Obama Health Care package is costing more
money than businesses they can afford, discouraging them from hiring additional
long-time moderate Democrat, I voted for President Obama in the last election
and President George Bush in his first term.
Disappointed by both of their decisions and leadership in office, I long
trillions of dollars in deficit, low unemployment, and low taxes. I understand that times were different then
and things changed after 9-11, but the basic fundamentals of controlled government
spending and low taxes were a catalyst for growth in our economy that leads to
have been too many bad decisions and lack of appropriate public policy when
needed, like one that would have adverted the collapse of our entire banking/financial
industry. There have been too many
bail-out packages, and a seriously flawed healthcare program that only
discourages employers from hiring.
right about one thing, “It’s time for change.”
What do you think can be done to improve the job market and stimulate our