Saturday, June 06, 2009

Glimmers Of Hope On the Employment Front

Can you believe a job loss of 345,000 last month is actually good news.
Job losses slowed dramatically in May, according to the latest government reading on the battered labor market, even as the unemployment rate rose to a 26-year high. But some experts cautioned that the job market remains weak.

Employers cut 345,000 jobs from their payrolls in the month, down from the revised decline of 504,000 jobs in April.

This was the fewest jobs lost in a month since last September, when the bankruptcy of Lehman Brothers caused a crisis in U.S. financial markets and choked off credit for many businesses. Economists surveyed by had forecast a loss of 520,000 jobs in May.
The one thing to remember is that we need to create 150,000 new jobs per month to keep up with demand but that hasn't happened in quite a while. Employment will remain a problem as long as it remains cheaper to ship our jobs overseas. Many people have asked how can we stop this run away train of outsourcing. The only way I can see is a return to the tariffs of old. Those tariffs valued American workers and American manufacturing. When those tariffs were lifted, under the guise of free trade, our standard of living was damaged. It is time to demand free trade be replaced by fair trade. It is time to demand that corporations pay their fair share of taxes and use those taxes to return us to fiscal sanity. It is time to stop mortgaging the next generation and its time to understand that we can not pay to defend the world while bankrupting our country. We need to get our priorities straight or all the defense in the world won't matter.

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