New economic numbers concerning the American employment situation have been released by the federal government and as one commentator expressed it is basically "unchanged" and it is "just plain lousy".
Appropriately, this statement "just plain lousy" describes the efforts of our President B. H. Obama in every issue he has faced and not just the economy.
The actual updated figures:
1. Unemployment, by federal calculations, has risen slightly to a 9.6% figure
2. Underemployment, by federal standards, has risen to 16.7%
3. The private sector added 67,000 new jobs but the federal government eliminated 114,000 jobs, almost all being census workers.
Taking a longer look at these data items, the increase in private sector jobs is truly unchanged. If this number of new jobs is averaged out among the states, then each state added only 1340 jobs this past month. This is a correct average calculation but is also very misleading. The number of new jobs created this past month in Utah has to be a minute number compared to new jobs in California or Ohio. However, the point is that this number of new jobs is, for each state and the nation as a whole, just terrible.
Almost all economists are now projecting that the nation's unemployment figures will continue to slightly worsen monthly for the rest of 2010 and that in 2011 unemployment will remain in the range of 10%.
Topping off this "no change" in our ever stagnant economy was a report in a conservative authored article that the average wage of a federal government employee, including all benefits, is now $123,049.00 while the private sector average wage is only $61,051.00.
And so it continues - "just plain lousy" economy aggravated by a "just plain lousy" President.
Friday, September 3, 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment