Why There Are No Jobs
Hey, unemployment is improving! No, not quite. The official unemployment rate is technically called the U3. Yes, there are many different ways to measure how many people do not have jobs. To me, the best way is the labor participation rate: that is, of all able-bodied adults, what % have a job? Today, this % is at historic lows.
Free Medical Insurance
The PPACA (aka “Obamacare”) was celebrated, since many thought they would be getting free insurance. Not quite. True, many more will end up with health insurance who did not have it before, but one way this is happening is by forcing employers to pay for same. They will respond by firing workers, not hiring new ones, and/or reducing wages or hours.
Increasing same might be merciful, but this will inevitably cause some to lose their job. There are whole classes of workers who might barely be worth $7 an hour, but not $10. These marginally productive workers will not have a job, not to mention new hires with little if any skills of economic value.
Here, Have More Unemployment Insurance
Extending UI might be humanitarian, but how will this help people find a job?
Remember this one? The Prez backed-up a dump truck full of cold, hard moola to industry so they can hire more workers. Not. In the end, it only funded those construction projects that would have gone ahead anyway.
Oddly, this a shovel-ready project. Everything is ready to go: all it requires is O's blessing, which is not forthcoming. The cost to gov't is $0.00, and will create thousands of jobs almost immediately. Sigh...
Presence of same in the job market takes jobs away from the rest of us. This is a simple case of supply and demand, regardless of the politics involved.
What To Do, What To Do...
If I knew the answer, I would be sipping drinks with a tiny, paper umbrella on a tropical beach somewhere being pampered head-to-foot. Unlike some, I am not arrogant enough to claim that I have the answer. The only useful thing I have to say is that the deck sure seems to be stacked against the job-seeker.