Posts Tagged ‘employment’

By CFS

“Weak”, “dismal”, “bleak”, “punishing”, “horrific”.  These are just some of the headlines that graced newspapers over the last couple of days regarding the recently released June employment report.  This comes amid the corporate media’s attempt to set the narrative of a weakening economy.  But if you take a long-term look at historic employment numbers, the latest is not much different.

While the jobs report shows that only 18,000 new jobs were created in June, such low numbers happened many times throughout the fraudulant “booming” Bush years.  The blog Jesse’s Cafe American did a wonderful job of anaylizing the numbers.  Click the graph in order to enlarge the image.

Once the economy was on the road to recovery in 2003, the jobs report came in at roughly the same numbers no fewer than 5 time before the onset of the latest recession.  In fact, the trend in employment is generally in line with trends in 2005, 2006, and 2007.  Even in a good economy, because of the cyclical nature of hiring, bad jobs reports crop up on a fairly regular basis.  Is the jobs report good? Obviously not.  But is it the end of the world? No, it is but one of many cogs ever in motion within the economy.

You’ll see little of this type of actual analysis being done from mainstream commentators.

And of course, potential Republican candidates took no time in attacking the President over his handling of the economy. Perhaps the most ludicrous reaction came from Republicant Presidential hopeful Gary Johnson, calling for an immediate elimination of the corporate income tax and  immediate spending reductions of $300 billion.

Sorry Gary, but multi-national corporations aren’t just going to throw away 20 years of investment in a supply chain that stretches across the globe just to give little ‘ol Americans manufacturing jobs once again.  Hey Gary, was that a hail mary to try and get your name to actually show up in the Republicant polls?

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