Economy

Early Labor Department Report

December 1, 2005 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

A report by the Labor Department showed the number of U.S. workers making new jobless claims fell last week. The initial claims for state unemployment benefits were down almost 17,000 claims to a level that settles around 320,000. So does this mean we are creating more jobs or just losing them at a slower rate? Both sides have a strong argument.

In reading various Reuter reports on these issues I find varying trends.

I found that the U.S. consumer spending report showed that our spending rose 0.2 percent in October. The same report also displayed that our personal savings rate continued into negative territory for a fifth straight month. What does this mean, it means we are doing exactly what we criticize our government for, we are spending money we just don’t have. Next time you whip out that snide remark about Bush trouncing our national debt, remember, many of your neighbors are doing the same thing but on a micro scale.

Another report stated that our personal income levels rose 0.4 percent in October, many feel this number is a reflection on the concessions many manufacturing positions are now accepting in America.

The number of people still on unemployment benefit rolls after drawing their first week of unemployment aid fell to around 2.77 million. This number is improving but 2.77 million is still more than we should be willing to accept.

So what can be done? We must stick to issues such as domestic corporate tax breaks, better promotion of the ‘Made in America’ labels, and remind consumers of their responsibility to their own fiscal well-being.

You must also pay attention to the unemployment rate, make sure your local government officials are doing all that they can to bring manufacturing and technical jobs to your area. By being politically active in economic issues you assure yourself, as well as your children, a very bright and healthy future.

Do not just sit there and read about economic figures, do not watch the news and recite bland facts and figures, and by all means never tow the party line. I encourage you to find out more facts, research more reports, and spend time digging deeper into the issues.

Feel free to utilize our government contacts list to find your elected representatives and let them know you want to make a difference. One persons opinion, and their one vote, can make the difference.
Labor Report

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