The Book!

Thursday, November 04, 2004

Has America Really Lost Jobs Under Bush?

This is true only on a very arbitrary selection of facts. I look at the unemployment rate, and see it at a historic low. Which seems to suggest the problem, if there is a problem, is not a lack of jobs, but a lack of workers. You can't have more jobs than you have workers to fill them, after all.

What is really happening seems to be that a larger proportion of the population is in retirement and early retirement than ever before. And this suggests growing prosperity, not doom and gloom. Perhaps more women also feel they can afford to stay home and raise their children, instead of pulling in a second income.

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