With Dismal Hiring, Can The U.S. Economy Recover?

[No DUplicitous DUpe]

With Dismal Hiring, Can The U.S. Economy Recover?
posted with permission from: http://sane-ramblings.blogspot.com/2011/07/with-dismal-hiring-can-us-economy-still.html

Economists and pundits have been predicting a robust jobs recovery, yet the latest U.S. jobs report is dismal once again. In an economy that needs to add 150,000 jobs a month just to keep up with its growth in population needing a job, the U.S. added just 18,000 jobs last month, on top of the 25,000 it added the prior month.

Federal, state and local governments are laying off people and companies hired just 57,000 people in June. And some of those jobs are at Wal-mart, McDonald's and other low pay scale employers, while others are at military sub-contractors, which means jobs at taxpayer expense. The unemployment rate is now 9.2%, with 14.1 million people out of work, 6.3 million of those people jobless for over six months. Add in those who can only get part-time work and those out of unemployment benefits, and the unemployment rate jumps to 16.2%, its highest since last December. And corporate wages are declining on average for those who are employed.

Worse yet, the U.S.'s massive stimulus money is spent and it is buried in debt. Meanwhile, consumers are overwhelmed with debt, deeper in debt now than 5 years ago as they struggle to make ends meet. So no surprise, they are not rushing out to buy homes, cars and appliances nor are they spending lavishly on restaurants and vacations, so the economy is in a vicious downward cycle. While this downward cycle is eating Americans alive, the government continues to spend heavily on its wars and its war machine.

This is not a spectator sport as the Democrats and Republicans fumble through their debt ceiling negotiation, a ceiling that will solve nothing but allow the U.S. to keep borrowing. As an American your voice matters but unless you and the rest of us raise our voices for our government to end its wars, slash the size of its war machine and get its finances in order, not only will the economy not recover but it will take all we have worked for down the toilet with it.

For more of the latest jobs information, please see "Job Growth Falters Badly, Clouding Hope for Recovery," The New York Times http://www.nytimes.com/2011/07/09/business/economy/job-growth-falters-badly-clouding-hope-for-recovery.html?pagewanted=1&hp

[sakabatou]

1. I'm sorry to be a pessimist, but not with how everything is now

You have right-wing courts in favor of companies. Non-affordable healthcare/meddication. 2+ wars. White-collar crime willy-nilly. Very few places hiring.

Etc., etc.

[Tierra_y_Libertad]

2. A consumer economy without consumers does not bode well for "recovery".

People without jobs or low paying jobs don't by much stuff. Which means that less stuff is produced because no-one buys it. Which means more layoffs or fewer hours or lower wages. Which means fewer people buying stuff.

Rinse, repeat, until people, who can, are only buying essentials.

Recovery?

[steelmania75]

3. Nope, no recovery unless middle class recovers, and the middle class hasn't recovered.

[unionworks]

4. obvious man

Says it should be obvious to us by now the gop-corporate block are doing everything in their power to prevent an economic recovery. They have a democratic president to unseat.

[No DUplicitous DUpe]

9. That's the way I see it, too. nt

[murphyj87]

5. Comparison between Canada and the US....

--------------Unemployment rate Jobs Created-------Jobs Created per million pop-Month----Job Creation Ratio CAN:US
Canada-----------7.40------------28000-------------------829.88-----------------June-----------14.154:1
United States-----9.20------------18000--------------------58.63-----------------June


Universal single payer health care, minimum wage of $10.00 an hour, Canada Pension at age 60, strong banking regulation, and unemployment rate of 7.4%.

If you Americans had universal health care, minimum wage of $10.00, Social Security at age 60, strong banking regulation, you too could have an unemployment rate of 7.4%.

[snot]

11. +1!

[Rex]

6. The economy can never recover as long as greedy SOBs control

the strings. The working class will always lose, we just don't have the power anymore.

[eilen]

7. The economy can only recover if it restructures. nt

[MrTriumph]

8. Our gov't must stop so called "free trade". China is killing the US.

x

[onethatcares]

10. it's not just China

it's the other three free trade agreements that are on the table.

Face it, things are not going to go back to the 50s ever again. Now it's the race to find the cheapest workers that have not had the benefits of a manufacturing society and lure them into the "good" life until the next cheapest workers are found to be lured into the "good" life.

I'm willing to bet you don't find Xboxes in the homes of the Morgans or even the *s.