I love the excuses. We’ve hit a “soft patch”, a “lull”. There’s a “lack of momentum”. We have “muted growth” and on and on The truth is job growth sucks.
Paul Wiseman of the AP reports that the U.S. labor force has shrunk by 529,000 since last November. That means these people answer surveys and say they are not actively looking for work. Why? The right wing has an explanation. Workers stop looking for work because they’re “lazy bums”. Actually it makes perfect sense to drop out. It costs a lot of money to go looking for work in travel expenses. Why waste money if there is no work?
And there’s more. Manufacturing grew at the slowest pace in 20 months in May
The housing slump is getting worse. Home prices fell to their lowest level since 2002 in March.
The GDP a measure of the growth of the whole economy went up an anemic 1.8% in the first quarter of the year.
But one thing is rising fast, inflation. Prices of things people need to live are going up over 3%. That means if you don’t get a raise (and who is?) your living standard will drop by 3%.
This is not how a recession is supposed to end. At the end of a recession things roar for a while, 6%, growth or more and then moderate.
Been reading about the first “recession” back inside the Great Depression of the ‘30’s. Unemployment had gone down from 25% to 14% by ’37. Then there was a double-dip and unemployment went upt 19% within a year.
When will people start demanding the U.S. government hire millions directly? It’s not like there’s no work to do. Newsweek just published a terrifying article about the “natural” disaster we’ve been having, saying their caused by climate change and that the disasters are the “new normal”. We need people to build everything from hurricane shelters to levys.
And we need a whole new energy industry to make up for nuclear power who is an immense deadly unsafe boondoggle.
We need planning, and a trillion spent on public enterprise jobs
And to get it we need to occupy the town squares like workers and not-in-the-labor-force working people are doing in Spain and Greece.