Jobs Lost Far Exceed Jobs Created in August

The long-term trend of cancelling, outsourcing and downsizing the labor force continues in the U.S.A. through 2012. In the last week of of August there were 365,000 first time unemployment claims while no more  than 202,000 jobs were created in the private sector. That means that the 47 million Americans receiving food stamps will probably see their ranks swell.

The last week of August that had 365,000 jobs lost, the week before it was 374,000 and so on. More jobs being lost than created. Evidently fewer Americans are working presently than in January 2009.

The Obama administation's plan to add five trillion or more of public debt if re-elected would leave a 2016 Presidency with more than 21 trillion of public debt to begin with. The rancorous Democrat congressional unwillingness to raise taxes on the middle class and rich in December 2010 plus the Obama administration forcing through an multi-trillion dollar middle class health care bill during hard times for the poor adds to the budget top-heavy stiltification of the U.S. economy. Just one foreign war and stoppage of middle east oil production would send the entire economic house of cards into depression with possible collapse of the value of the dollar.

The 2007-2008 mortgage and banking crises were constructed during the Clinton years of financial deregulation with Al Qaeda also building up its attack potential during the Clinton decade era of failure to reconstruct and manage foreign intelligence gathering, yet the Obama construction of a new depression would exceed the capacity for domestic industry to dig itself out of that quagmire since so much American production was outsourced while the nation developed a financial related services and non-material production core that fails to deliver during low growth eras.

The black hole lurking out there for the labor force is the millions of illegal aliens that will surge anew into the U.S.A. to take jobs if the economy recovers even modestly thus softening the labor wage market further.

note- the data used in this post are approximations of Dept of Labor reported numbers.