Friday, July 8, 2011

Guess what? Shedding government workers pushing up jobless numbers. Who would have thunk?

Reuters: Government employment has been steadily declining, falling for twelve of the last 13 months.

It’s so easy to tank the economy, isn’t it? With the Republicans in charge of the purse strings, the return to certainty in the markets due to extending the Bush tax cuts and not one jobs bill created, the GOP push to not raise the debt ceiling will be the last straw in their grand plan. Where are the jobs? Who cares, we’re debating the debt ceiling now. Hey, try to keep up.

Of course, Republicans have nothing to lose, knowing there’s a good chance Obama’s going to give in to their demands. Obama’s surrender will only embolden and add credibility to the failed idea of trickledown economics.

Americans agree with austerity first, at least according to the latest Marist Poll, and will be happy to see their kid’s spending money on them when the safety nets won’t pay anymore. Of course that’s after the Baby Boomers go broke losing their life savings on the next Wall Street colapse.

Those times when we were happy to just get by, feed ourselves, taking vacations with the family and live well beyond our means being good consumers, is why were in all this trouble in the first place. Who ever said you were entitled to a long term job, edible food or even the basic human right of health care. Always remember, business uncertainty is bad, consumer uncertainty is good...I guess.

Making government smaller by basically removing the quality of life that made us the greatest nation in the world, will usher in a whole new age of risk capitalism.

State government employment is down to early 1999 levels, or in terms of employees per 1,000 population, the lowest since 1976, according to a June 13 report from RBC Capital Markets. In May, the state and local government workforce dropped by 30,000, with 17,500 lost jobs coming from the education sector, the report said.

The U.S. economy generated just 43,000 jobs in the last two months, perhaps taking the world's largest economy skating closer to recession territory. Manufacturing added a paltry 6,000 jobs and manufacturing hours worked declined noticeably … Average hours worked declined and earnings were essentially stagnant.  Over 6 million Americans, or a record 45 percent of the jobless population, have been without a job for six months or longer. Temporary hiring fell by a sharp 12,000, suggesting a reluctance by employers to take on new workers even on a short-term basis. 

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