Jan 7, 2013
As the Dow Jones Industrial Average soared to record highs, economists released the “not-so-great” news about the U.S. job market. Job growth is expected “at best” to continue where it is. The unemployment rate, that measures only workers still looking for work, is still at 7.8%. The real numbers that include all those who have given up searching for work are much higher.
At the rate jobs are being added, it will take more than 10 years to get back to 2007 employment levels. And these levels were already bad.
But the bosses continue in giving themselves Christmas gifts into the new year: record profits, stock market all-time highs, fiscal cliff gifts like reductions in inheritance tax, while we inherit what?
A wholesale disaster!
What boss under capitalism worries about our employment when the stock market is where the profits are!