Economic perspective.

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by David Remer PoliWatch.Org

In a NY Times article entitled Employers Balk at New Hiring, Despite Growth By Louis Uchitelle it is reported that the work force grew by only 57,000 jobs last month, only a third of what most forecasters had projected.

Folks, a little perspective is needed here. More than 3 million jobs have been lost since the last presidential election. If last month we had created 500,000 jobs, we would have a reason to celebrate, because that would represent 1/6 of the jobs lost, being recreated. But, the fact is only 57,000 jobs were created. At this rate it will take over 4 years to recover all the jobs lost in the last two years.

The jobs lost were mostly full-time jobs with benefits. The new jobs being created are largely part-time, temporary, and full-time near minimum wage with no benefits. It is a mistake to believe the President as he touts the economic recovery while raising $1,000,000 in an hour at a speaking event. Yes, the economy is improving for the President and his corporate buddies. But, for those of us who work in the middle or lower class, it is actually getting worse with each passing month that this President remains in office.

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This page contains a single entry by David R. Remer published on December 7, 2003 10:31 PM.

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