Friday, June 01, 2012

Those Jobs Numbers

Jobs rose 69,000 last month, again showing that the economy is sluggish.  The Dow dropped over 200 points already today on the jobs report and fears of a sluggish economy.  Who knows what might happen before the closing bell?

Lets talk about jobs.  The graduates have graduated, many of them going on to further training or education.  Some of them entered the workforce, but of those going to to training, lots of them graduated last month too.  So, how many jobs does the US need to absorb all those newly-minted graduates?  Depending on who you talk to, about 125,000 per month.  Each month.  Every month of the year.

Who creates jobs?  Employers create jobs.  Capitalists, entrepreneurs, business owners.  Those folks create jobs.  Not government, not stimulus, 

We're not doing that well as a country right now.  We're worse off right now than we were when our current President was elected. The numbers are simple.  When you see a jobs report, if the number isn't 125,000 or higher, we're losing ground.  Remember that in November.  This might be the most important election of our lives.

1 comment:

Rivrdog said...

It's likely that we're worse off than the "jobs numbers" indicate.

What is a "job" anyway? I've never heard a real definition since the "shovel-ready" crapple the Obama crowd put out, and then that "job" was defined as 15 days duration or more, so in effect, one real, full-time job could be inflated to 24 "jobs".

I'm used to local government employment stats, which are recorded in "FTEs" or Full Time Equivalences, one FTE being 2080 hours of work per year.

I'll bet a dollar to a donut that we are being led down the garden path with these numbers, which seem to have bamboozled everyone, including Wall Street.