High unemployment numbers remain consistently misdiagnosed
Christopher S. Rugaber of the Associated Press penned this article titled Unemployment aid applications stuck at high level, in which he reports “the number of people seeking unemployment benefits hardly changed for a second straight week, stuck at a high level that points to a slowing job market. Applications had fallen in February to 375,000, a level that signals sustainable job growth.” The article goes further to explain that “the report suggests that employers have lost some confidence in the economic recovery, said Neil Dutta, an economist at Bank of America Merrill Lynch. He pointed to higher gas prices, the Japan crises that have led to a parts shortage and the inability of Congress to agree on a plan to raise the $14.3 trillion debt ceiling as the main reasons. He expects employers will likely add about 150,000 jobs per month for the next few months, a level that would barely reduce the unemployment rate.” While I am no expert, I am acutely aware of what’s really going on and it has nothing to do with high gas prices, Japan’s crisis and Congress refusing to raise the debt ceiling. The increase in unemployment filing has only to do with families trying anything and everything to try and survive.
Take into consideration the fact that until May the average job gains were 220,000 per month yet the unemployment numbers increased. One has to ask themselves how this is possible and it is clear. When out of work citizens heard that someone was hiring they jumped on the news. With each passing month they heard about neighbors finding jobs and thought that they would be next. Many of these jobs were probably conducted through the unemployment offices so they figured they had to be registered in order to be considered or called. These numbers will stay high until we are able to reclaim the number of jobs lost when business was getting a bailout while throwing employees off their jobs. Those jobs may never return but they can be replaced.
The unemployment numbers have nothing to do with what the experts say is the cause because these things are not controlled by the unemployed. The things that experts say are the cause of high unemployment is caused by those in Congress, big banks and big business. None of these entities have to concern themselves with where their next meal will be coming from or whether they will have a home to live in tomorrow. All that they concern themselves with is the newest get richer scheme. There are individuals out there who could do a much better job creating jobs and bringing down that unemployment numbers relativity quickly but can not seem to get the assistance they need to do so. For every industry that has been dismantled and shipped overseas, there is an individual who can create the same number of jobs if allowed. Loss of confidence is not why employers hold off on hiring, it’s the potential loss of revenue. If it’s a chance that business could gain ten dollars but lost fifty cents, they will always choose to not lose the fifty.