Tuesday, September 15, 2009
No celebrating yet
Despite the apparent return of the Good Old Days to Wall St, the Bush Depression continues to hurt the segment of America that the Bushoviks most enjoyed trashing, working people. Or more accurately, as Bob Herbert notes,the no longer working people.
Consider this: Some 9.4 million new jobs would have to be created to get us back to the level of employment at the time that the recession began in December 2007. But last month, we lost 216,000 jobs. If the recession technically ends soon and we get to a point where some modest number of jobs are created — say, 100,000 or 150,000 a month — the politicians and the business commentators will celebrate like it’s New Year’s.The Great Recession may b ending for Wall St but the Bush Depression remains locked in on America.
But think about how puny that level of job creation really is in an environment that needs nearly 10 million jobs just to get us back to the lean years of the George W. Bush administration.
We’re hurtin’ and there ain’t much healin’ on the horizon.
Subscribe to Post Comments [Atom]
Subscribe to Posts [Atom]