We received surprising job numbers last Friday. The unemployment rate dipped to 7.7%. The economy hired 236,000 workers last month. I will continue to argue that we have to do better. Over 9 million Americans are still out of work. We need to create 9 million jobs just to get back to where we were in 2007. These jobs numbers are good, but we need better. Also, this jobs report comes out before the cuts of the sequester. I suspect, over the coming months, these jobs numbers will begin to fall.
Just a couple days ago the Dow Jones Industrial Average hit a new high. Remember as you’re reading this that Republicans have told us that Obama is bad for Wall Street and bad for business. (Psst, corporate profits are up.)
Washington, like a punch drunk fighter, keeps swinging at the wrong target. Deficits are not the problem. The problem is a lack of jobs. The problem is a stagnant wage. The biggest problem in the United States is the fact that the middle class is drowning in quicksand. They are simply not getting ahead. Until we fix this problem, America is going to be stagnant. (more…)