The cover of the October 13 issue of National Journal.
The Shadow Generation: They’re the children of the millions who lost jobs in the Great Recession— and their lives promise to be forever different as a result. By Nancy Cook
I’m working on a story about student debt and need to talk to someone who has a lot of it. Do you have nightmares about how much you owe in debt or have had to tell your significant other the amount owed in case it’s a deal breaker? Let’s chat. I want to tell your side of the story.
If you would like to share your story, please email me at bmcclane at nationaljournal dot com.
Jim Tankersley shows us how the economy is looking through several handy charts.
These two charts show:
1. How unemployment is decreasing but way too many Americans are still jobless (that’s about 13 million).
2. There’s less demand than there was before the recession. One example is in construction. There is less of a demand from customers for construction companies which results in them not needing to hire more people.
Go here to view more charts and read Tankersley’s analysis.
That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is a “circle of life” like feedback loop between customers and businesses. And only consumers can set in motion this virtuous cycle of increasing demand and hiring. In this sense, an ordinary middle-class consumer is far more of a job creator than a capitalist like me.
So when businesspeople take credit for creating jobs, it’s a little like squirrels taking credit for creating evolution. In fact, it’s the other way around.”
Latest from Restoration Calls. The full story drops tomorrow.
Jim Tankersley on the 200K jobs added in December & the possible effect on Obama’s re-election campaign.
PHOTO OF THE DAY: House Speaker John Boehner, R-Ohio, Majority Leader Eric Cantor, R-Va., and Rep. Cathy McMorris Rodgers, R-Wash., participate in a news conference at the U.S. Capitol on Friday. The news conference was held to discuss the May 2011 Bureau of Labor Statistics employment report, which was released this morning. (Mark Wilson/Getty Images)
UI rate down to 9%. But only 36,000 jobs created. Potential explanations abound: population adjustments, huge number of people suddenly leaving the labor force (unlikely), revisions to earlier numbers. People will focus on the 0.4 point drop and see momentum and movement and optimism. So the White House will probably take this one…. even as they struggle to explain why the number of actual jobs created was so low, even for a December.