The Jobs Report, and America’s Two Economies
At a time when corporate profits are through the roof, the Dow is flirting with 12,000, Wall Street paychecks are fat again, and big corporations are sitting on more than $1 trillion in cash, youd expect jobs be coming back. But youd be wrong.
The U.S. economy added just 36,000 jobs in January, according to todays report from the Bureau of Labor Statistics. Remember, 125,000 are needed just to keep up with the increase in the population of Americans wanting and needing work. And 300,000 a month are needed continuously, for five years if were to get back to anything like the employment we had before the Great Recession.
Join the discussion below, or Read more at robertreich.org.
Since: Nov 08
#1 Feb 4, 2011
Obama is like a hot wine enema. Sparkling wine. He gives people shivers up the leg but in the end, he's just a bunch of crap.
Since: Mar 10
#2 Feb 4, 2011
To spend this much money to get such meager results is criminal. It's what created the TEA party. Sadly, the union workers who elect these skells to get them their benefits will be left holding the bag when their pensions and health benefits are dissolved in the coming wave of municipal bankruptcies. I love cops, but when you see some of these yokel sheriffs running around with more gold stars than the joint chiefs, it doesn't take a harvard economist to see we're headed for a reckoning. It sucks, but the party's over.
#3 Feb 5, 2011
Yet Reich wants to import more foreign labor- especially poor uneducated labor.
If native born high school dropouts are a net drain on taxpayers through what mental gymnastics can he decide that non English speaking high school dropouts are good?
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