11/12/03:There was some heartening news on the employment front last week. It appears that there was actually a net growth in jobs for the last three months, with 126,000 positions created in October alone. This is a welcome development and a step in the right direction--and not too soon. However, there is so much more to go. Economists from both sides of the aisle cede that in order to have more than a jobless recovery, we need to have job growth in the range of no less than 150,000 jobs per month. And this is far fewer than Treasury Secretary Snow's minimum of 200,000 per month for next year. Also keep in mind that many of the jobs created, or filled, are at a lower wage than previously held. Yes, things are not looking so dark at the moment, but let's just keep our focus on the number-one priority, real sustainable job growth. |