[Marxism] The jobless issue

Marvin Gandall marvgandall at rogers.com
Sat Feb 21 09:21:47 MST 2004

The Bush administration’s many critics are hoping the current “jobless
recovery” will turn the US working class against it, but a review of the
job market in the latest Economist suggests this is unlikely.

American workers are conservative because the US economy continues to
furnish them with job opportunities well beyond world standards – even
during periods like the present when, as the Economist notes, the public
perception is otherwise.

There are signs of discontent with the current slow pace of job growth –
and the quality of the jobs being created – from industrial workers and,
increasingly, from white-collar employees faced with the “outsourcing”
of their jobs overseas. But official unemployment still hovers at a
relatively low 6%, and 140 million Americans continue to work – “a
near-record, both in absolute terms and as a proportion of the
population”, says the magazine.

The US historically creates many more jobs than it loses and the
Economist is expecting the economy to revert to form this year –
insisting with other conservative commentators that lagging job growth
is cyclical rather than structural, and that “outsourcing” is

Economist (sub only) article available on www.supportingfacts.com

Sorry for any cross posting.

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