2004-03-17
Smile, these are good times says the Economist. The argument is that incomes are rising more than statistics indicate. Median income stats are diluted by large numbers of immigrants willingly entering the country to take low paying jobs. "Most Americans have at least two cars and their own house, and they send their children to college." We have bigger homes and spend a great deal of our time on how to buy more stuff for them.
Though "in February, a mere 21,000 jobs were created, according to the official payroll survey, at a time when George Bush's economists forecast 2.6m new jobs for 2004 ... the jobs lost are mainly a cyclical affair, not a structural one." The Economist is convinced that "in the next year or so, today's high productivity growth will start to translate into more jobs." But if your profession is one that typically is seen as "overhead" instead of "revenue-producing", you may feel the pain more acutely and for longer.
Though "in February, a mere 21,000 jobs were created, according to the official payroll survey, at a time when George Bush's economists forecast 2.6m new jobs for 2004 ... the jobs lost are mainly a cyclical affair, not a structural one." The Economist is convinced that "in the next year or so, today's high productivity growth will start to translate into more jobs." But if your profession is one that typically is seen as "overhead" instead of "revenue-producing", you may feel the pain more acutely and for longer.
