Where is the US economy headed?

@cicerone imposter,

I don't know about overall, but I'm very impressed (one way or another) with the staffing at the local Social Security Office. I opened my account in Miami, Florida in the late 50s. There were three people working there. Our office in Farmington, NM has what looks like ten times as many employees, and almost as many security guards as staff members in Miami at that time. Miami had something like ten times the population as we have here and now.

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Massachusetts has an unemployment rate of about 5.6%, making it one of the lowest in the Country.

So what makes Massachusetts so unique? Why, for example does Illinois ( home of Lincoln and Obama ) have an unemployment of about 9.3%?

What can Illinois do in order to decrease unemplyment?

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Romney has pledged to create 12 million jobs in his 1st term.
Sounds good. But over 48 months that is 250,000/month. We need to create 150,000 to keep up with population growth. We have - I think - done that, but haven't done much better.

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@realjohnboy,

rjb, Do you know how Romney is going to create all those jobs?

Does he know there's a world recession now, and nobody knows when most developed countries will see their GDP's grow over inflation? +

Actually, Romney said 1.2 million jobs by the end of his first term.

Quote:

Romney says Americans deserve better than an unemployment rate that stays stubbornly stuck above 8 percent. He says Obama "doesn't have a plan" for boosting growth and said that his economic plan would create 1.2 million new jobs by the end of his first term.

Read more from this Tulsa World article at http://www.tulsaworld.com/news/article.aspx?subjectid=688&articleid=20120803_688_0_hrimgs123981

That's 25 thousand jobs/month.

That looks like a "depression" to this observer.

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@realjohnboy,

realjohnboy wrote:

Romney has pledged to create 12 million jobs in his 1st term.
Sounds good.

There may be many more jobs with Romney, but who will fill these jobs?

Most of the uneployed are jobless, due to lack of necessary skills. I you've never had a course in Organic Chemistry, do you think that Pfizer will hire you to perform Organic Chemistry experiments?

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My point was that Romney's promise of 250k/mo was not much compared with 150k/mo needed to keep up with pop growth. It makes for a good stump speech though.

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@cicerone imposter,

The Tulsa article was wrong.

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@realjohnboy,

Thx. Never rely on one article as fact.

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Our posts kind of crossed, miller. I was specifically addressing Romney's promise about goal of creating 250K jobs a month which seems to me to be less then bold.
I didn't mean to derail your train of thought. You were saying...

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@Builder,

Builder wrote:

Cred to Hingehead for the graph.

Thanks. I always wanted to go to Australia

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@Thomas,

Thomas wrote:

Nothing new in the labor market, with employment minimally worse than last month and last year, employment minimally worse than last month and a little better than last year. We might as well be watching the grass grow in our gardens.

don't let this ruin your day...

The Labor Department said Tuesday job openings rose to a seasonally adjusted 3.8 million in June, up from 3.7 million in May. That's the most since July 2008. Layoffs fell.

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An imbalance between rich and poor is the oldest and most fatal ailment of all republics. Plutarch, Greek philosopher, 46-120 AD

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@Rickoshay75,

Did Plutarch discuss cod republics?

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@Rickoshay75,

Median wealth by Country doesn't mean much. If you look at only wealth without looking at debt, it means very little, because any subject on wealth must consider a) income, b) home mortgage vs value, and c) long term economic stability.

Here's a chart on income (one of the important issues about wealth).
From Wiki

Quote:

Mean equivalized disposable household income (PPP) $
Rank Country NCU[10] Currency in 2004[11] PPP rate 2004[12] Mean Income (PPP)
1 United States 32,195 United States Dollar 1...... 32,195
2 Canada...... 33,785 Canadian Dollar 1.27...... 26,602
3 Switzerland 49,844 Swiss Franc 1.88............ 26,512
4 United Kingdom16,685British Pound 0.64........... 26,070
5 Norway..... 254,243Norwegian krone 9.8 ............25,943
6 Austria 22,527 Euro 0.89............................... 25,311
7 Germany 20,901 Euro 0.91.............................. 22,968
8 Denmark 202,275 Danish Krone 9.0.............. 22,475
9 Netherlands 20,607 Euro 0.92....................... 22,398
10 Sweden 203,460 Swedish Krona 9.6.............. 21,193
11 Belgium 19,563 Euro 0.924........................... 21,173
12 South Korea 18,587,000 Won 886.2.......... 20,937
13 France 19,547 Euro 0.952................................. 20,532
14 Australia 29,417 Australian Dollar 1.44....... 20,428
15 Japan 2,986,594 Yen 150.8........................... 19,805
16 Spain 14,003 Euro 0.788.................................. 17,770
17 Italy 15,835 Euro 0.91.................................... 17,401
18 Poland 14,844 Polish złoty 2.08..............................7,136

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@realjohnboy,

Less than bold? I thought he was being optimistic, which is often the case with candidates before they actually get the job.

Miller does have a point on who is going to fill those jobs. We've got some very long term unemployed, skills atrophy, and the most skilled jobs have advancements that the unemployed don't share. Add to this the attitudes of some personnel departments to practice defensive hiring by writing job qualifications that can barely be met by the present job holders, it might be awhile before the good jobs get filled.

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If Romney has his way with the education system where do you think that US economy will head?

Rachel Maddow explains.

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@reasoning logic,

Rachel Maddow is an idiot who is seriously clueless.

And in other news the sun rises in the east and water is liquid.

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@Atom Blitzer,

Quote:

Rachel Maddow is an idiot who is seriously clueless.

What is she clueless about? Maybe you would like to clue us in?

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@reasoning logic,

I second that~! We all know who is "clueless" around here, and it isn't Maddow.

It becomes immediately evident when they start using ad hominems rather than challenge anything Maddow has said.

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@reasoning logic,

Ok she seems utterly incapable of doubt or complication very often in regards to her liberal worldview, and let's see, her newscasting abilities are not that great either. And if she was attempting humor, then perhaps she failed miserably.

Added to that she has good resume but she is not a thinker. She "knows" her answer before the question is even asked kind of parody. Where have I seen that, oh wait, that sums up Fox news in a bottle.

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@Atom Blitzer,

You wrote,

Quote:

Ok she seems utterly incapable of doubt or complication very often in regards to her liberal worldview,

Provide us with some direct examples?

1 Reply

Where is the US economy headed?

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