Friday, December 2, 2011
Unemployment Drops to 8.6%: Good Employment News to Start Off the Holiday Season
We are finally starting to see some real good Economic News as we close out 2011 and hopefully get off to a good start in 2012. And hopefully the 4th Quarter not in the football game but in the Economic Growth Rate. Will look good as well, maybe with the Holiday Season and everything else we'll hit 4% Economic Growth. And maybe we'll start to see Job Reports North of 150K maybe even 200K per month. But as the cheesy News Reporter always says, "only time will tell". But when that starts to happen, our Unemployment Rate will stop dropping like rocks from a bridge. And we can finally put the "Great Recession" now three years old to bed, actually four years depending on how you look at it. Because Economic Growth started dropping in late 2007, I know President Obama and Congressional Democrats are certainly hoping for that, because that means they get reelected. And Congressional Democratic Candidates are certainly hoping for that as well, because that means they get elected. Depending if they are sane, of Legal Age, alive, American Citizens and can prove these things. Good Economic News is not just good news for the Democratic Party, because they hold the White House and Senate which are at stake next year. But they want the House back as well and believe they can get these things but more importantly its good news for the rest of the country. Because it means millions of American Workers can go back to work and support themselves and their families again. And stop collecting from Public Assistance and start paying into it again. Which is also good news for our Debt and Deficit Outlook.
I've been saying this for months so this may sound repetitive, despite recent good news with the economy. We still have a long way to go, we are currently at 8.6% Unemployment, where before the "Great Recession". We were at 5.6% Unemployment I believe, so we really need about a year straight or more of solid Economic and Job Growth. To get back to a more comfortable economy with solid Economic and Job Growth each month. And we can either wait for that to happen and sit on our hands or we can try to make that happen through policy. We have a lot of work to do in this country and we have plenty of Unemployed Workers. That can do this work, so thats what we should be doing. First do no harm and not have a Middle Class Tax Hike, House Republicans are making a major gamble in looking like Tax Hikers. By messing around with an Extension of the Payroll Tax Holiday, that needs to be extended as well as Unemployment Insurance. So those people can have some income as they continue to look for work. And as President Obama laid out back in September we need something like the American Jobs Act. With serious Infrastructure Investment with a National Infrastructure Bank, to put our Construction Workers back to work. In the neighborhood of 200B$ a year not 40B$ which was in the 2009 American Recovery Act.
We had a good November and looks like December is off to a good start with Retail Sales up. But this is going to sound old but we still have a long way to go. But the good news is we are finally under 9% Unemployment which is what we've been at for 2 1/2 years now. So progress is finally being made and its progress that can been seen and felt. And hopefully just a good sign of more positive things to come with rising Economic and Job Growth.