…the overall number of private-sector
jobs is still far too few. In the last two years, according to the European
Central Bank, 2.16 million jobs were created in the eurozone: 724,000 in Spain,
592,000 in Germany, but only 127,000 in Italy. And of these, almost
two-thirds are part time. Unemployment in Germany is 6.3 percent; in Italy
it’s going down, but is still high at 11.3 percent. And only 15.1 percent of
Italians between 15 and 24 have a job at all, against 43.8 percent in
And so, even as Mr. Renzi and the
Italian media celebrate the private sector, many Italians are longing for
the security of the dull but solid life of the government clerk.
New York Times
According to the Wall Street
Journal, today's jobs report imposes a huge amount of pressure on the Fed. Jobs
are up; half the jobs created are temporary positions. The rest are in
service industries that pay very low wages and no benefits.
Wages went down again
month, making it harder or nearly impossible for a family to make ends meet
Temporary positions, when finished, will lead to many more unemployed people.
Part time jobs, a sizable chunk of the jobs that have been created, aren’t
enough for a family to live on.
Our economy and GDP have been
growing in the 2% range, the lowest in the last 50 years.
Andrew S. Ginsburg
…outsourcing is not the main
driver of domestic job loss.
a lot of the manufacturing jobs the United States lost over the
past 50 years didn’t go overseas; they simply disappeared with the advent of
James Sherk, a research fellow in
labor economics at the Heritage Foundation, said the trend in machines taking
over factory work that was previously done by humans has been going on since
the 1950s. But for presidential candidates, it’s a lot easier to blame other
countries rather than robots.
Don’t blame stingy companies or
over-regulation by the government; blame the rapid progress of technology.
Instead of talking down to
blue-collar workers, candidates should admit that trying to restore
manufacturing to what it once was in this country is not an attainable, or even
a desirable, goal.
Machines are cheaper than people, marginal wage
increase or not.
New York Times
Time to Talk Robots
Emma Roller JAN. 5, 2016