CNN Breaking News: Employers add 162,000 jobs in March; Jobless rate stays unchanged at 9.7%.
So where have all the jobs gone?
- We industrialized and killed the farm sector
- We unionized and killed profitability
- We automated and killed manufacturing
- We slacked and killed quality
- We off shored and killed textiles
- We relaxed and grew low-income job opportunities in farming, landscaping, roofing, and cleaning
- We innovated and increased longevity
Now that our factories are idled, closed, and some even razed; now that we have a septuagenarian workforce; now that more young people are entering the workforce earlier and without an education or job skills; now that illegal immigrants are holding jobs that Americans are too proud to take or can’t afford to do; and now that so much is being done offshore or in fully-automated facilities—we want to know where the jobs have gone?
The White House cannot turn this around, nor can Congress. We’re on a spiral that will continue until some formidable collapse occurs far beyond the scope and impact of the financial difficulties being experienced today by the US, Iceland, Greece, and many other nations that would have been beyond question only a decade ago.
We may see some recovery over the next few quarters but capitalism is a system that is determined to optimize profitability to such an extent that corporations are collectively prone to optimize themselves out of existence. In the name of profitability, corporations have cut production and laid off workers, creating a pool of unemployed consumers who can no longer afford the goods and services being produced—thereby driving additional cuts and in some cases, liquidation of some of those very same corporations. Time will tell but the pattern is there to be clearly seen looking backwards. Apply the same behaviors going forward and the future appears more bearish than bullish.