After losing so many manufacturing jobs overseas, why has our unemployment remained low prior to this crisis?
We clearly have a trade deficit, which means we are more interested in other country’s goods, than they are in ours. Considering our high cost structure, this is no surprise to me. My fear is global financial companies like Bank of America, Citi, AIG, Merrill Lynch, etc, have been making up for lost manufacturing jobs, and now they are permanently damaged, and selling off divisions to other countries. What are your thoughts?
Unemployment remained low because of:
1. Service industry jobs
2. Financial industry jobs
3. Computer/IT jobs
4…. I just wanted to stress the Service industry again.
It has been argued that we used to trade low paying jobs for high paying jobs, but the recent past has shown us that we are starting to suffer in those regards. A bartender doesn’t make the best money… neither does a wal-mart associate. With dwindling job quality comes dwindling tax base.
I would be more worried because of the financial industry. That was one of the last great industries in America…. where people put their money. Autos are all but gone, the pharmaceutical industry isn’t what it was…
Our country has nothing great anymore.
It isn’t the unemployment that remains low, it’s the unemployment claims that remain low. Once you exhaust your benefits, you are no longer in the statistics as being unemployed even though you are not working. The sneaky government doesn’t tell you that.
References :
Bobbi
3 Sep 09 at 9:40 pm
Free trade is the serial killer of American manufacturing and the Trojan Horse of World Government. It is the primrose path to the loss of economic independence and national sovereignty. Free trade is a bright shining lie.
Pat Buchanan
References :
http://buchanan.org/blog/quotes/
Roboron
3 Sep 09 at 9:53 pm
This is an artificially forced recession. Every time Obama’s Bill is not passed he goes on TV and creates mass hysteria and then gets the big companies to have massive layoffs to scare the public. Scare tactics are not what I want from a President.
Obama is selling our country.
References :
Linda K
3 Sep 09 at 10:32 pm
Unemployment remained low because of:
1. Service industry jobs
2. Financial industry jobs
3. Computer/IT jobs
4…. I just wanted to stress the Service industry again.
It has been argued that we used to trade low paying jobs for high paying jobs, but the recent past has shown us that we are starting to suffer in those regards. A bartender doesn’t make the best money… neither does a wal-mart associate. With dwindling job quality comes dwindling tax base.
I would be more worried because of the financial industry. That was one of the last great industries in America…. where people put their money. Autos are all but gone, the pharmaceutical industry isn’t what it was…
Our country has nothing great anymore.
References :
nothingconstant
3 Sep 09 at 11:11 pm
Because, like when we moved for agriculture to manufacturing, people learned new skills. That is what we, in America have to do again, learn the new skills to meet the new job requirements. So far, our National School system wants to throw more money after a bad investment since until you get the individual and the family to care, some people will refuse to learn.
References :
andy
3 Sep 09 at 11:47 pm