Robert Reich: Jobs Report and the Supreme Court’s “McCutcheon” Debacle
What does the Supreme Court’s “McCutcheon” decision this week have to do with [last week's] jobs report, showing 192,000 new jobs for March?
Connect the dots. More than five years after Wall Street’s near meltdown the number of full-time workers is still less than it was in December 2007, yet the working-age population of the U.S. has increased by 13 million since then.
This explains why so many people are still getting nowhere. Unemployment among those 18 to 29 is 11.4 percent, nearly double the national rate.
Most companies continue to shed workers, cut wages, and horde their cash because they don’t have enough customers to warrant expansion. Why? The vast middle class and poor don’t have enough purchasing power, as 95 percent of the economy’s gains go to the top 1 percent.
http://economyincrisis.org/content/jobs-report-and-the-supreme-courts-mccutcheon-debacle
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