Friday, September 07, 2012

Unemployment is down to 8.1 percent and the USA is seeing the same anemic job growth post recession as before.

The American people need to realize the damage done to the USA economy over the decades of Republican bubble and bust economics has done a lot of damage. Creating sustainable jobs is a matter of rebuilding the nation's manufacturing and future. The fact an entire generation of Americans were neglected except for using them to fight unnecessary wars is a serious reality everyone needs to get their minds around. There are structural deficits in our economy and that requires commitment to rebuild not simply seeking another bubble for immediate gratification followed by still yet another recession.

By Guest Blogger on Jun 1, 2012 at 6:10 pm
...Even with today’s (click title to entry - thank you) disappointing and troubling jobs report, private sector job creation under President Obama has far exceeded private sector job creation under President Bush. 40 months into his presidential term, there are currently more private sector jobs in the economy than when Obama came into office. At the same point in President Bush’s term, the total number of private sector jobs was still down 1.7 percent from where it began....


There is retraining needed for many of the unemployed for existing jobs without viable candidates to fill them. Those jobs need to be targeted for fulfillment. And no is going to get money from their parents to fill those jobs either. It is a matter of the nation's best interest to seek out holes in our employment and fill them. That is sustainable growth and not just another bubble for 'that feel good feeling.' 


WASHINGTON | Fri Sep 7, 2012 9:07am EDT

....Nonfarm payrolls increased only 96,000 last month, (click here) the Labor Department said on Friday. While the unemployment rate dropped to 8.1 percent from 8.3 percent in July, that was because so many Americans gave up the hunt for work.

The survey of households from which the jobless rate is derived showed a drop in employment. The lackluster report keeps the pressure on Obama ahead of the November vote in which the health of the economy looms large.

"This weak employment report, in jobs, wages, hours worked and participation is probably the last piece the Fed needs before launching another round of quantitative easing next week," said Joseph Trevisani, chief market strategist at Worldwide Markets in Woodcliff Lake, New Jersey....

I am skeptical to the ability of another QE adding to the willingness of any sector adding infusion of jobs to the USA economy. I'd like Bernanke to be successful, that is not the case, but, adding jobs that cannot be filled by the USA work force is a bit an act of futility. Wouldn't you say?

The fact of the matter is bubble and bust is not a strategy to sustained economy growth, quite the contrary, it devastates the American populous into homelessness and helplessness.

With poverty increasing and JOB OPPORTUNITY waning this is the completely wrong time to be cutting spending on domestic spending and support of those abandoned by the previous administration.

President Obama is on the right track to sustainable job growth and The American Jobs Act was PAID FOR. The GOP has never been more cruel to an entire generation of Americans that have believed in President Obama. They were never abandoned by him, but, only excluded from achievement by the GOP on a chronic path to campaign strategy for the past four years. 

It is a lot to ask to keep the promise of growth by this generation, but, President Obama has proven his ability to grow a sustainable economy that no Republican president before him as been able to provide. To change course now is the worst thing that can happen to the USA. We need good paying sustainable growth and to realize the USA has been raped of its assets o for so many years is to realize the remarkable work President Obama has done with the economy he inherited in remnants.

We have the growing infrastructure including jobs unfilled by this work force. It can occur and we will achieve our goals of a strong economy rather than just 'an economy.' We will have the American Dream back, but, it won't be in 'believing' it will happen, it will be in knowing we are currently making it happen.