http://online.wsj.com/news/articles/SB10001424052702304680904579368562158283286?mod=WSJ_WSJ_US_News_5
Although the economy is recovering, there is a worry that it is not recovering as quickly as hoped and the jobs growth indicators prove that. The last two months have had low gains of jobs, "marking the weakest two-month stretch of job creation in three years." Although more jobs are being added, not enough are being added to really help the economy in its recovery. On the bright side, the unemployment rate has moved down to 6.6%, which is the lowest it has been since 2006. This decline in the unemployment rate, however, is not coming because of the addition of jobs but rather because more people went out and found jobs. This means that the labor-force participation rate has gone up. More people are willing to accept low-paying or part-time jobs because of the trouble that they are having in looking for full time jobs that suit their credentials. If we want our recovery to have quicker, more stable growth, employers must be willing to hire. In order to get employers to higher, people must be willing to accept lower wages, minimum wage must be lower, taxes must go up, or the government must spend more. All of these fiscal strategies sound unreasonable, but I think America has lost their nationalistic pride. How did we get out of the Great Depression in three years? Nationalism. It just does not seem to be there anymore.
I was very impressed to see that the unemployment rate has dropped and also excited to see that there are more people that are going out and searching for jobs. Although they may not be finding things as of now, I think it is good that more people are looking as opposed to giving up. I feel as though if government increases their spending to create more jobs, however, they absolutely need to raise taxes, not necessarily on the rich though. I personally feel that government should cut some of the Welfare benefits, and encourage more people to look for jobs. They also could give tax breaks or benefits to employers that start hiring more.
ReplyDeleteI agree, it would be great if people could sacrifice a little for the greater good, but then again this is capitalism and the way for it to work is for everyone to put their best interest first.
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