Politics > Politics-USA > Come one, come all!: U.S. population growth outpaces U.S. economic growth by 7,000,000+ jobs
| Topic: |
Politics > Politics-USA |
| User: |
"GeorgeWashingtonAdmirer" |
| Date: |
28 Jan 2007 03:36:08 AM |
| Object: |
Come one, come all!: U.S. population growth outpaces U.S. economic growth by 7,000,000+ jobs |
[Note: Paul Craig Roberst was a member of the Reagan Administration. Like
perceptive and patriotic Americans everywhere he is APPALLED at the
nightmare that is the NeoConman-run Bush Misadministration]
------------------------------------------------------------
Nuking The Economy
Immigration Numbers Outnumber US Job Growth By 7,000,000
By Paul Craig Roberts
1-27-7
Last week the Bureau of Labor Statistics re-benchmarked the payroll jobs
data back to 2000. Thanks to Charles McMillion of MBG Information Services,
I have the adjusted data from January 2001 through January 2006. If you are
worried about terrorists, you don't know what worry is.
Job growth over the last five years is the weakest on record. The US
economy came up more than 7 million jobs short of keeping up with
population growth. That's one good reason for controlling immigration. An
economy that cannot keep up with population growth should not be boosting
population with heavy rates of legal and illegal immigration.
Over the past five years the US economy experienced a net job loss in goods
producing activities. The entire job growth was in service- providing
activities--primarily credit intermediation, health care and social
assistance, waiters, waitresses and bartenders, and state and local
government.
US manufacturing lost 2.9 million jobs, almost 17% of the manufacturing
work force. The wipeout is across the board. Not a single manufacturing
payroll classification created a single new job.
The declines in some manufacturing sectors have more in common with a
country undergoing saturation bombing during war than with a super- economy
that is "the envy of the world."
* Communications equipment lost 43% of its workforce. Semiconductors and
electronic components lost 37% of its workforce.
* The workforce in computers and electronic products declined 30%.
* Electrical equipment and appliances lost 25% of its employees.
* The workforce in motor vehicles and parts declined 12%.
* Furniture and related products lost 17% of its jobs.
* Apparel manufacturers lost almost half of the work force.
* Employment in textile mills declined 43%.
* Paper and paper products lost one-fifth of its jobs.
* The work force in plastics and rubber products declined by 15%.
* Even manufacturers of beverages and tobacco products experienced a 7%
shrinkage in jobs.
* The knowledge jobs that were supposed to take the place of lost
manufacturing jobs in the globalized "new economy" never appeared.
* The information sector lost 17% of its jobs, with the telecommunications
work force declining by 25%.
* Even wholesale and retail trade lost jobs.
* Despite massive new accounting burdens imposed by Sarbanes-Oxley,
accounting and bookkeeping employment shrank by 4%.
* Computer systems design and related lost 9% of its jobs.
* Today, there are 209,000 fewer managerial and supervisory jobs than 5
years ago.
In five years, the US economy only created 70,000 jobs in architecture and
engineering, many of which are clerical. Little wonder engineering
enrollments are shrinking. There are no jobs for graduates. The talk about
engineering shortages is absolute ignorance. There are several hundred
thousand American engineers who are unemployed and have been for years. No
student wants a degree that is nothing but a ticket to a soup line. Many
engineers have written to me that they cannot even get Wal-Mart jobs
because their education makes them over-qualified.
Offshore outsourcing and offshore production have left the US awash with
unemployment among the highly educated. The low measured rate of
unemployment does not include discouraged workers.
Labor arbitrage has made the unemployment rate less and less a meaningful
indicator. In the past unemployment resulted mainly from turnover in the
labor force and recession. Recoveries pulled people back into jobs.
Unemployment benefits were intended to help people over the down time in
the cycle when workers were laid off. Today the unemployment is permanent
as entire occupations and industries are wiped out by labor arbitrage as
corporations replace their American employees with foreign ones.
Economists who look beyond political press releases estimate the US
unemployment rate to be between 7% and 8.5%. There are now hundreds of
thousands of Americans who will never recover their investment in their
university education.
Unless the BLS is falsifying the data or businesses are reporting the
opposite of the facts, the US is experiencing a job depression. Most
economists refuse to acknowledge the facts, because they endorsed
globalization. It was a win-win situation, they said.
They were wrong.
At a time when America desperately needs the voices of educated people as a
counterweight to the disinformation that emanates from the Bush
administration and its supporters, economists have discredited themselves.
This is especially true for "free market economists" who foolishly assumed
that international labor arbitrage was an example of free trade that was
benefitting Americans. Where is the benefit when employment in US export
industries and import- competitive industries is shrinking? After decades
of struggle to regain credibility, free market economics is on the verge of
another wipeout.
No sane economist can possibly maintain that a deplorable record of merely
1,054,000 net new private sector jobs over five years is an indication of a
healthy economy. The total number of private sector jobs created over the
five year period is 500,000 jobs less than one year's legal and illegal
immigration! (In a December 2005 Center for Immigration Studies report
based on the Census Bureau's March 2005 Current Population Survey, Steven
Camarota writes that there were 7,9 million new immigrants between January
2000 and March 2005.)
The economics profession has failed America. It touts a meaningless number
while joblessness soars. Lazy journalists at the New York Times simply
rewrite the Bush administration's press releases.
On February 10 the Commerce Department released a record US trade deficit
in goods and services for 2005--$726 billion. The US deficit in Advanced
Technology Products reached a new high.
Offshore production for home markets and jobs outsourcing has made the US
highly dependent on foreign provided goods and services, while
simultaneously reducing the export capability of the US economy. It is
possible that there might be no exchange rate at which the US can balance
its trade.
Polls indicate that the Bush administration is succeeding in whipping up
fear and hysteria about Iran. The secretary of defense is promising
Americans decades-long war. Is death in battle Bush's solution to the job
depression? Will Asians finance a decades-long war for a bankrupt country?
********************
Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan
administration. He was Associate Editor of the Wall Street Journal
editorial page and Contributing Editor of National Review. He is coauthor
of The Tyranny of Good Intentions.
------------------------
Best Conservative Publications Chronicles Magazine American Conservative
Magazine VDare Middle American News Right Now! (UK) Citizens Informer!
__________________________________
.
|
|
| User: "JakTheHammer" |
|
| Title: Re: Come one, come all!: U.S. population growth outpaces U.S. economic growth by 7,000,000+ jobs |
28 Jan 2007 04:10:29 AM |
|
|
Well, let's control the border then, what are we waiting for?
So much talking about the illegal aliens, I haven't seen much going
on.
"GeorgeWashingtonAdmirer" <guybannister58@aol.com> wrote in message
news:64ly0kgkfvz1$.drg49yhdo7pz$.dlg@40tude.net...
: [Note: Paul Craig Roberst was a member of the Reagan
Administration. Like
: perceptive and patriotic Americans everywhere he is APPALLED at
the
: nightmare that is the NeoConman-run Bush Misadministration]
: ------------------------------------------------------------
: Nuking The Economy
:
: Immigration Numbers Outnumber US Job Growth By 7,000,000
:
: By Paul Craig Roberts
: 1-27-7
:
: Last week the Bureau of Labor Statistics re-benchmarked the
payroll jobs
: data back to 2000. Thanks to Charles McMillion of MBG Information
Services,
: I have the adjusted data from January 2001 through January 2006.
If you are
: worried about terrorists, you don't know what worry is.
:
: Job growth over the last five years is the weakest on record. The
US
: economy came up more than 7 million jobs short of keeping up with
: population growth. That's one good reason for controlling
immigration. An
: economy that cannot keep up with population growth should not be
boosting
: population with heavy rates of legal and illegal immigration.
:
: Over the past five years the US economy experienced a net job
loss in goods
: producing activities. The entire job growth was in service-
providing
: activities--primarily credit intermediation, health care and
social
: assistance, waiters, waitresses and bartenders, and state and
local
: government.
:
: US manufacturing lost 2.9 million jobs, almost 17% of the
manufacturing
: work force. The wipeout is across the board. Not a single
manufacturing
: payroll classification created a single new job.
:
: The declines in some manufacturing sectors have more in common
with a
: country undergoing saturation bombing during war than with a
super- economy
: that is "the envy of the world."
:
: * Communications equipment lost 43% of its workforce.
Semiconductors and
: electronic components lost 37% of its workforce.
:
: * The workforce in computers and electronic products declined
30%.
:
: * Electrical equipment and appliances lost 25% of its employees.
:
: * The workforce in motor vehicles and parts declined 12%.
:
: * Furniture and related products lost 17% of its jobs.
:
: * Apparel manufacturers lost almost half of the work force.
:
:
: * Employment in textile mills declined 43%.
:
: * Paper and paper products lost one-fifth of its jobs.
:
: * The work force in plastics and rubber products declined by 15%.
:
: * Even manufacturers of beverages and tobacco products
experienced a 7%
: shrinkage in jobs.
:
:
: * The knowledge jobs that were supposed to take the place of lost
: manufacturing jobs in the globalized "new economy" never
appeared.
:
:
: * The information sector lost 17% of its jobs, with the
telecommunications
: work force declining by 25%.
:
:
: * Even wholesale and retail trade lost jobs.
:
: * Despite massive new accounting burdens imposed by
Sarbanes-Oxley,
: accounting and bookkeeping employment shrank by 4%.
:
: * Computer systems design and related lost 9% of its jobs.
:
: * Today, there are 209,000 fewer managerial and supervisory jobs
than 5
: years ago.
:
: In five years, the US economy only created 70,000 jobs in
architecture and
: engineering, many of which are clerical. Little wonder
engineering
: enrollments are shrinking. There are no jobs for graduates. The
talk about
: engineering shortages is absolute ignorance. There are several
hundred
: thousand American engineers who are unemployed and have been for
years. No
: student wants a degree that is nothing but a ticket to a soup
line. Many
: engineers have written to me that they cannot even get Wal-Mart
jobs
: because their education makes them over-qualified.
:
: Offshore outsourcing and offshore production have left the US
awash with
: unemployment among the highly educated. The low measured rate of
: unemployment does not include discouraged workers.
:
: Labor arbitrage has made the unemployment rate less and less a
meaningful
: indicator. In the past unemployment resulted mainly from turnover
in the
: labor force and recession. Recoveries pulled people back into
jobs.
:
: Unemployment benefits were intended to help people over the down
time in
: the cycle when workers were laid off. Today the unemployment is
permanent
: as entire occupations and industries are wiped out by labor
arbitrage as
: corporations replace their American employees with foreign ones.
:
: Economists who look beyond political press releases estimate the
US
: unemployment rate to be between 7% and 8.5%. There are now
hundreds of
: thousands of Americans who will never recover their investment in
their
: university education.
:
: Unless the BLS is falsifying the data or businesses are reporting
the
: opposite of the facts, the US is experiencing a job depression.
Most
: economists refuse to acknowledge the facts, because they endorsed
: globalization. It was a win-win situation, they said.
:
:
: They were wrong.
:
: At a time when America desperately needs the voices of educated
people as a
: counterweight to the disinformation that emanates from the Bush
: administration and its supporters, economists have discredited
themselves.
: This is especially true for "free market economists" who
foolishly assumed
: that international labor arbitrage was an example of free trade
that was
: benefitting Americans. Where is the benefit when employment in US
export
: industries and import- competitive industries is shrinking? After
decades
: of struggle to regain credibility, free market economics is on
the verge of
: another wipeout.
:
: No sane economist can possibly maintain that a deplorable record
of merely
: 1,054,000 net new private sector jobs over five years is an
indication of a
: healthy economy. The total number of private sector jobs created
over the
: five year period is 500,000 jobs less than one year's legal and
illegal
: immigration! (In a December 2005 Center for Immigration Studies
report
: based on the Census Bureau's March 2005 Current Population
Survey, Steven
: Camarota writes that there were 7,9 million new immigrants
between January
: 2000 and March 2005.)
:
: The economics profession has failed America. It touts a
meaningless number
: while joblessness soars. Lazy journalists at the New York Times
simply
: rewrite the Bush administration's press releases.
:
: On February 10 the Commerce Department released a record US trade
deficit
: in goods and services for 2005--$726 billion. The US deficit in
Advanced
: Technology Products reached a new high.
:
: Offshore production for home markets and jobs outsourcing has
made the US
: highly dependent on foreign provided goods and services, while
: simultaneously reducing the export capability of the US economy.
It is
: possible that there might be no exchange rate at which the US can
balance
: its trade.
:
: Polls indicate that the Bush administration is succeeding in
whipping up
: fear and hysteria about Iran. The secretary of defense is
promising
: Americans decades-long war. Is death in battle Bush's solution to
the job
: depression? Will Asians finance a decades-long war for a bankrupt
country?
:
: ********************
:
: Paul Craig Roberts was Assistant Secretary of the Treasury in the
Reagan
: administration. He was Associate Editor of the Wall Street
Journal
: editorial page and Contributing Editor of National Review. He is
coauthor
: of The Tyranny of Good Intentions.
: ------------------------
: Best Conservative Publications Chronicles Magazine American
Conservative
: Magazine VDare Middle American News Right Now! (UK) Citizens
Informer!
: __________________________________
:
.
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