Less than Zero Jobs Report

by Clifford F. Thies

Today's jobs report is thought to be dismal. Zero net new jobs. But, it is less than zero, because job creation in the two prior months was revised downward. Plus, there was a reduced average workweek. From 34.3 to 34.2 hours. Plus, hourly earnings fell. By 0.1 percent. That's without any adjustment for inflation. So, fewer people were working, for less hours per week, and for less pay per hour.

In terms of unemployment, it held steady at 9.1 percent. That's with another 400,000 working part-time workers (counted as "employed") when they would like to work full-time. And, over the course of the past year, an increase in 200,000 in the number of people who would like to find work, and who looked for work during the past year, but who didn't look during the past month.

Before the jobs report, "Predictions suggest that roughly 60,000 jobs might have been created in August," according to one source, WashingtonPost a number that was said to contribute to the President's slide in the polls. "The worse - or more deeply disappointing - the jobs report", that source continued, the more difficult it would be for the President.

What about how much worse it would be for those who remain unemployed, who struggle to make ends meet when on short hours, or who have given up even looking for work? What about them? NO, WHAT ABOUT US???

Our jobs, our homes, our businesses, our retirement savings, everything at risk, for us and for those we love. And all the pundits want to worry about is what this means for the President's re-election prospects

I am sick up to here with all this talk of shared pain. Let's get back on track with a growing economy, where we who are willing to work can look forward to gain instead of pain.

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