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Economy
In reply to the discussion: Weekend Economists Take Five: December 7-9, 2012 [View all]Demeter
(85,373 posts)10. Today’s Job Numbers Show Why Job-Creation Must Take Precedence Over Deficit Reduction
http://www.nationofchange.org/today-s-job-numbers-show-why-job-creation-must-take-precedence-over-deficit-reduction-1354897080
Todays jobs report shows an economy thats still moving in the right direction but way too slowly, which is why Washingtons continuing obsession with the federal budget deficit is insane. Jobs and growth must come first.
The cost of borrowing is so low the yield on the ten-year Treasury is near historic lows and the need for more jobs and better wages so high, and our infrastructure so neglected, that its insanity not to borrow more to put more Americans to work rebuilding the nation.
Yes, unemployment is down slightly and 146,000 new jobs were created in November. Thats some progress. But dont be blinded by the hype coming out of Wall Street and the White House, both of which want the public to believe everything is going wonderfully well.
The fact is some 350,000 more people stopped looking for jobs in November, and the percent of the working-age population in jobs continues to drop now at 63.6%, almost the lowest in 30 years. Meanwhile, the average workweek is stuck at 34.4 hours....
Todays jobs report shows an economy thats still moving in the right direction but way too slowly, which is why Washingtons continuing obsession with the federal budget deficit is insane. Jobs and growth must come first.
The cost of borrowing is so low the yield on the ten-year Treasury is near historic lows and the need for more jobs and better wages so high, and our infrastructure so neglected, that its insanity not to borrow more to put more Americans to work rebuilding the nation.
Yes, unemployment is down slightly and 146,000 new jobs were created in November. Thats some progress. But dont be blinded by the hype coming out of Wall Street and the White House, both of which want the public to believe everything is going wonderfully well.
The fact is some 350,000 more people stopped looking for jobs in November, and the percent of the working-age population in jobs continues to drop now at 63.6%, almost the lowest in 30 years. Meanwhile, the average workweek is stuck at 34.4 hours....
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