Saturday, October 06, 2012

We need a change in leadership

The media was critical of criticism of the recent NFP unemployment report that showed an 0.3% improvement in jobs. But wait a minute, what kind of jobs were created in this economy? The data clearly shows that 582,000 of the 873,000 jobs created were part time jobs. These low paying jobs, without benefits, aren't going to put people in housing, get them a vehicle, qualify them for credit or any of the trappings of wealth that enable a healthy, growing economy. These are food stamp jobs.


Look at the continuing economic crisis from the perspective of the number of americans on food stamps and disability. Nearly 15% of the US workforce is sitting idle and barely surviving , basically unable to participate in the economy. Does this look like an economy that is "improving"? Part time seasonal jobs as Christmas help certainly is not the jobs that are needed to heal the shambles economy in the US today.

In fact, this enormous increase in part time jobs actually damages the economy by suppressing wages for those who are lucky enough to have full time jobs. Median wages are down on average about 33% back to the level seen 20 years ago. Even as inflated prices for goods and services have risen 40%. Most americans have no disposable income available any more.

So let's cut the crap that the incumbent's economy is "on the mend". We need a change in leadership.

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