Friday, September 2, 2011
As the U.S. prepares to celebrate the Labor Day weekend, perhaps we should consider renaming the official last holiday of summer, No Labor Day weekend.
For the first time since World War II, the U.S. economy had a net zero jobs created for a month.
Economists, proving they don’t know their ass from a hole in the ground, expected to see a net of 75,000 jobs created but, they were wrong.
The stock markets have slumped more than 10 percent since the beginning of May as concerns grew that the debt and deficit problem.
Unemployment holds steady at 9.1% and the more disturbing numbers show people “marginally attached to the labor force” rose to 2.6 million from 2.4 million. These are workers not included in the unemployment count because they had not sought work in the past four weeks.
After nearly three years in office, President Obama will at last outline a major jobs plan next Thursday but as the 2012 nears, it is likely to be too little, too late.
The jobless rate has stayed stubbornly high during the president’s term despite more than $800 billion in stimulus spending and the addition of more than $4 trillion to the national debt.
It has become abundantly clear President Obama’s policies are failing the American people at a time when real unemployment is closer to 22% nationally.