There Are More People Looking For Fewer Jobs Than At Any Other Time On Record
Granted, the record only goes back through 2000 which (despite what the liberals and their mouthpieces in the media were telling us at that time) was actually a time of economic prosperity (barring the post-9/11 recession), but even so. This is ugly stuff:
Job seekers now outnumber openings six to one, the worst ratio since the government began tracking open positions in 2000. According to the Labor Department’s latest numbers, from July, only 2.4 million full-time permanent jobs were open, with 14.5 million people officially unemployed.
And even though the pace of layoffs is slowing, many companies remain anxious about growth prospects in the months ahead, making them reluctant to add to their payrolls.
“There’s too much uncertainty out there,” said Thomas A. Kochan, a labor economist at M.I.T.’s Sloan School of Management. “There’s not going to be an upsurge in job openings for quite a while, not until employers feel confident the economy is really growing.”
The media keeps reporting the on-going ugly employment numbers as it happening “despite signs of economic recovery.” I really don’t think we’re anywhere near to a recovery for a couple of reasons.
First, the “signs of economic recovery” we’re seeing are little more than static. Through massive amounts of deficit spending the government has poured a lot of money into the economy. And all of that money has made the market react. You can’t throw a rock in a pond without seeing some ripples. But that money wasn’t created wealth. It was borrowed from China and our nation’s other creditors against our children and grandchildren’s future taxes. And the economic activity it has stimulated will only last so long as that spending continues.
And we can’t afford to continue it at all.
Second, as I just pointed out, there’s going to be a bill coming for all that spending soon. And the money to pay that bill is going to have to come out of the economy. And the money coming out of our economy is only going to further depress the economy.
With all of the spending the Obama administration has done, not to mention the new powers it has used the economic down turn as an excuse to grab, the most they’ve been able to accomplish is to create the appearance of a small amount of economic recovery.
An appearance that will, eventually, be shattered by reality.
