Sunday, August 07, 2005

Job Creation Lags Behind American Population Growth

On Friday, supporters of the Bush Administration hailed the 207,000 new jobs "created" for July as "good news". Yet when figured against the population growth of the United States, this figure is simply pathetic.

When Bush entered office on January 2001, the U.S. population was 278.0 million. In 2005 the U.S. population now stands at 297.7 million. In 2001, 137.7 million persons had employment in 2001. In 2005, 142.0 million persons have employment. The problem is that only 4.3 million more jobs have been created for a population growth of 17.7 million persons, and if a constant employment versus population figure of 49.3% holds, rather than just 4.3 million new jobs created, a figure much closer to 8.0 million jobs should have been created by now. For only a mere 4.3 million jobs to be created versus a population growth figure of 17.7 million persons means quite simply that job growth is not keeping up with population growth. And as time moves on 10, 20, or 30 years, millions will be without jobs as a severe U.S. work shortage is beginning to take hold.

In the 1970's Congress watered down and passed a merely symbolic version of the Humphrey-Hawkins Full Employment Act when Hubert Humphrey was ill with cancer. Now America is paying a high price as 900,000 textile jobs have disappeared since the introduction of NAFTA. Most U.S. steel mills are now closed thanks to foreign steel dumping practices. Hundreds of thousands of U.S. automobile manufacturing jobs which are mostly high paying union jobs have been lost. And store shelves are stacked full of Chinese import products manufactured at 24 to 40 cents average labor costs that have driven the trade deficit with America up to $162 billion a year with China. And before NAFTA, America had a $5 billion dollar trade surplus with Mexico, which has turned into a $50 billion dollar a year trade deficit since NAFTA. And as the economy has worsened in Mexico because of NAFTA, where the number of employed in Mexico has actually decreased every month since 1991, and 2/3 of Mexican farmers have lower standards of living since NAFTA, has created a wave of economic refugees from Mexico. Since NAFTA, 15 million Mexicans have tried legally or illegally to enter the U.S., with 5 million finding residence in the U.S. NAFTA has ruined the lives of many in Mexico, so these familiies seek a better life in America.

And inflation has taken a huge toll on American families. In 1950, a Nash Rambler sold for $1880. In 1960, a Rambler American sold for $1880. In 1970, an AMC Gremlin sold for $1879. But today a small economy car has risen in price to $14000 to $18000. A home that sold for $20000 in 1968, now is valued at $400000 to $500000, with $40000 or $50000 a month house payments vesus ones of maybe $300 or less in 1968. Hyperinflation has destroyed the buying power of the dollar as wages lag far behind the inflation rates month by month, year by year.

And with mostly high paying union jobs down to just 8% of all jobs. And Elaine Chao, the U.S. Labor Secretary, and wife of Senator Mitch McConnell, wanted to reclassify workers who "assemble" a hamburger at McDonald's as manufacturing labor to soften the statistical loss of high paying factory jobs in America.

The Bush Administration may seek to invent "good news" by manipulation of manufacturing jobs statistics by appointing a very partisan wife of a U.S. Senator as Labor Secretary or other nonsense. But too many trends are clear. A flood of cheap imports is taking more high paying jobs each month. More low paying "McJobs" are being taken by older workers for less pay displacing so many young people, that teenage unemployment is the worst since WWII at a startling 62%. And more and more low paying jobs at mega-stores such as Wal-Mart where many workers are paid only the minimum wage with no health care or retirement benefits, who often count on public welfare services such as food stamps, public health projects or a small social security check upon retirement.

And with the 4.3 million jobs supposedly created since Bush entered office, the U.S. national debt has grown by $2 trillion dollars, or $500000 per job created since January 2001. There are so many serious problems for the American economy, and workers, and a figure of jobs lagging behind the population growth is yet another "canary in the coalmine" warning of economic disaster for America unless some serious attempts to turn around the flood of cheap imports displacing American workers ans attempts to keep inflation low and housing affordable. This is a moral cause to provide the best for the the lives of children and families in America.

3 Comments:

At 9:38 AM, Blogger SGH said...

FYI: 278.0 - 297.7 is 19.7 million, not 17.7 million. Also, how many of these new citizens were children? It is jumping to conclusions to draw the conclusion that you did without knowing how (or if) demographics changed over the period.

 
At 2:19 PM, Blogger Dennis said...

Don't forget about the disappeared unemployed that the Bush administration does not count, due to their losing their unemployment benefit after 6 months and the Republican Party has refused to extend unemployment insurance benefits to a year while people still work.

So the real unemployment rate appears higher. The bush administration delivers a double wammy by stopping benefits at 6 months and then not counting these people swho still seek work.

Join the revolution for progressive legislation

http://www.boycott-republicans.com



We can stop the war in Iraq by boycotting the defense contractor General Electric corporation.


I want each and every person who wants to stop the War in Iraq to contact the defense contractor General Electric. Go to http://www.ge.com and send them email to the effect that you have decided

not to buy any GE products including Ovens, stoves, refrigerators, light bulbs, televisions, radios, telephones, video recorders, dvd recorders and players, etc.

UNTIL their company executives get the President of the United States aka THE CHIMP to hold a press conference announcing that he will withdraw all US Troops from Iraq, to get replaced by UN troops to defend Iraq until Iraq troops can defend their own country.

In addition to sending email from the web site you can make these demands of GE through their public relations officials. Please act polite when contacting them.

Gary Sheffer

Executive Director, Communications and Public Affairs

(203) 373-3476

gary.sheffer@ge.com



Peter O'Toole

Director, Public Relations

(203) 373-2547

peter.o'toole@ge.com

Yes his name's really Peter O'Toole but Bush appeared the one Lying in Winter about the Iraq war.


Join the revolution for progressive legislation

http://www.boycott-republicans.com

 
At 7:01 PM, Blogger xjd7410@gmail.com said...

michael kors outlet clearance
pandora jewelry
michael kors outlet clearance
air max 90
oakley vault
jordans
ray ban wayfarer
nike outlet
christian louboutin shoes
michael kors outlet
rolex submariner
michael kors handbags
michael kors handbags
louis vuitton outlet
oakley sunglasses
louis vuitton handbags
jordan shoes
gucci outlet
lebron james shoes
longchamp handbags
ralph lauren polo
gucci handbags
coach outlet
ralph lauren outlet
coach outlet online
michael kors
michael kors outlet
christian louboutin outlet
michael kors handbags
jordan 8s
lebron james shoes 13
ralph lauren uk
coach factory outlet
designer handbags
ray ban sunglasses
nike uk
michael kors outlet
marc jacobs
kate spade handbags
jordan 3 infrared
2016.7.23haungqin

 

Post a Comment

<< Home