April 6. Contrary to all the expert’s expectations only 120,000 jobs were created last month. True, one month’s numbers don’t mean much, but still it’s a bit of a bad surprise. The widely publicized “unemployement rate” dropped, but only because people “left the labor force”.
To me the most revealing number concerning jobs is the “employment-population ratio”. It’s basically the number of adults working divided by the number of adults in the country. This number doesn’t get affected by “discouraged” workers, people “leaving the labor force” and the other ways of hiding the unemployed.
For all the talk of the improving economy the number, 58.5%, is the same now as it was a year ago. It actually went down a tenth of a percent last month.
Will say it till I’m blue in the face. We need millions of new public enterprise jobs, now.
Trade unions won’t say it, though. They’re betting everything on Obama’s reelection. He’s such a friend. (though he forgot to have the Democratic Convention in a city with a union hotel… Hey, you have to vote for the better of two weevils)
I went to a Labor Council meeting with local Congresswoman DeLauro. Someone asked, “What’s Plan B if the Surpeme Court knocks down the Obama health care law”. She said, “There’s no Plan B”. I asked “What about Single-Payer”? She replied “You know I’m for it, but there’s no votes for it. There needs to be more education.” I replied “From a president who won’t say one word about single-payer”?