Wednesday, July 27, 2011
Jobs engine
Folks, we got a sputtering jobs engine. The unemployment rate is a 9.2% now. It could go over ten soon. Economists call this a job less recovery. Problem is without jobs there is no revenue. That means you cannot get a meaningful recovery to occur. State see a drop in sales tax income. Mostly it is because workers have to take more cuts in pay. Businesses are hiring workers from over seas. Certainly, this helps them trim expenses. However, it causes structural unemployment in america to rise.
Labels:
jobs
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