US Unemployment

July 8, 2012

There are so many ‘experts’ weighing in on the US unemployment rate, I find it’s increasingly hard to find thoughtful and objective opinions.

I feel that our domestic economy is doing pretty well, and that the White House has been more or less on-point, given the limitations imposed by folks like John Boehner and Eric Cantor.

The unemployment numbers released on July 6 painted a dismal picture to some, yet the facts reveal that some jobs have been created in the private sector each month since President Obama took office.

There are 2 issues no one seems to focus on. (1) Gross over-employment in the public sector, and (2) the 3+ million private sector job openings that are currently open and unfilled.

Jobs are open and unfilled for a number of reasons, often related to labor mobility and/or experience and training. (For example, a skilled manufacturing job in Raliegh would not be a good fit for a high school dropout living in Buffalo.)

Unemployment trends from April 2008 (@ 5%) to October 2009 (@ 10%), reflect that it took just 18 months for unemployment to double.

Who should we blame for that?

Since late 2009, we’ve seen a gentle but persistent upward trend in the overall employment rate, and during that time period the elusive cluster of unfilled job openings has grown steadily from around 2.6 million in 2009 to around 3.2 million today.

Following the release of June 2012 employment numbers, Governor Romney was heard to say this from the helm of his yacht on Lake Winnipesaukee, “The president’s policies have not gotten America working again, and the president is going to have to stand up and take responsibility for it.”

It is this sort of bad behavior that creates enough of a distraction to shield the real issues from the people.

A lot of blather with no constructive suggestions on how to move forward in a positive fashion, and a seeming unwillingness to look critically at the whole story.

This is very sad coming from a fellow who purports to be a leader.

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