3
350DRIVER
By R. Scardapane
NATIONAL NEWS - While President Bush rejoices in the job creation numbers of March 2004, economists question the meaning of the data. Despite creating a surplus in jobs, the unemployment rate went up from 5.6% to 5.7%. How could this possibly be?
The Bush administration spin is that discouraged workers are trying again. If so, this is roof that the unemployment rate does not reflect true number of people seeking work. The Bureau of Labor Statistics, (BLS) estimates that a more realistic un-employment rate is in excess of 9% when discouraged and part-time workers are counted.
There are other possible explanations for the rise in unemployment rate despite apparent strong job creation. There were 12,000 jobs added by strikers returning to work. In addition, there were 71,000 jobs added in construction. On the surface that sounds great but many jobs are actually Iraqi citizens employed by American companies for various Iraqi reconstruction projects.
For the American manufacturing sector, there was no job gains at all. The information technology (IT) sector, actually lost 1000 jobs.These sectors are the most effected by American worker replacement by cheap foreign labor ("global sourcing"). Our President keeps insisting this is "Good for America" but many such as Senator Kerry do not agree.
Even more disturbing is that long term unemployment, jobless for at least o_ne-half a year, has increased by o_ne percent. A quote from the Economic Policy Institute (www.epinet.org):
"The household survey also reveals a few other indicators that labor demand is still a problem. The share of the long-term unemployed-those who have been jobless for at least half a year-jumped up a percentage point to 23.9%, the highest level since July 1983, when the unemployment rate was 9.3%. There was also a 296,000 increase in the number of so-called involuntary part-time workers, i.e., those who would prefer full-time work. This change helped push up the BLS's comprehensive measure of underemployment-which adds discouraged workers and involuntary part-timers to the traditional group of unemployed-to 9.9%, up 0.3 percentage points from last month."
When I read these statistics o_ne vital question comes to mind - do these numbers reflect American citizens or are VISA / foreign workers included? American citizens are searching for full-time jobs in their skill area. Many of these jobs, IT in particular, were simply given away to foreigners for no reason other than that they were somewhat cheaper employees. These jobs are important to the success of the American society.
A nation that does not produce can not survive.
NATIONAL NEWS - While President Bush rejoices in the job creation numbers of March 2004, economists question the meaning of the data. Despite creating a surplus in jobs, the unemployment rate went up from 5.6% to 5.7%. How could this possibly be?
The Bush administration spin is that discouraged workers are trying again. If so, this is roof that the unemployment rate does not reflect true number of people seeking work. The Bureau of Labor Statistics, (BLS) estimates that a more realistic un-employment rate is in excess of 9% when discouraged and part-time workers are counted.
There are other possible explanations for the rise in unemployment rate despite apparent strong job creation. There were 12,000 jobs added by strikers returning to work. In addition, there were 71,000 jobs added in construction. On the surface that sounds great but many jobs are actually Iraqi citizens employed by American companies for various Iraqi reconstruction projects.
For the American manufacturing sector, there was no job gains at all. The information technology (IT) sector, actually lost 1000 jobs.These sectors are the most effected by American worker replacement by cheap foreign labor ("global sourcing"). Our President keeps insisting this is "Good for America" but many such as Senator Kerry do not agree.
Even more disturbing is that long term unemployment, jobless for at least o_ne-half a year, has increased by o_ne percent. A quote from the Economic Policy Institute (www.epinet.org):
"The household survey also reveals a few other indicators that labor demand is still a problem. The share of the long-term unemployed-those who have been jobless for at least half a year-jumped up a percentage point to 23.9%, the highest level since July 1983, when the unemployment rate was 9.3%. There was also a 296,000 increase in the number of so-called involuntary part-time workers, i.e., those who would prefer full-time work. This change helped push up the BLS's comprehensive measure of underemployment-which adds discouraged workers and involuntary part-timers to the traditional group of unemployed-to 9.9%, up 0.3 percentage points from last month."
When I read these statistics o_ne vital question comes to mind - do these numbers reflect American citizens or are VISA / foreign workers included? American citizens are searching for full-time jobs in their skill area. Many of these jobs, IT in particular, were simply given away to foreigners for no reason other than that they were somewhat cheaper employees. These jobs are important to the success of the American society.
A nation that does not produce can not survive.
