Obama Sets Job Goal Higher
After being briefed that the nation’s unemployment rate could increase to 9% today, it’s reported that President Elect Obama is now looking to create or save up to 3 million jobs. This is a half million more jobs than he had set as a goal last month and now 3 times what he pledged during his election run.
The number coincidently covers the expected number of future job losses now being forcast as the economy continues to wallow in what is now the worst recession in decades. While admirable to want to keep the nation employed, one has to wonder if these notions are a bit to simplistic. For one, it ignores the fact that the skills of the people now losing jobs may not come close to what is needed in the government manufactured ones. Moreover, the concept of bring major government projects aimed at increasing employment to actually getting folks employed quickly is unrealistic.
The unpleasent truth is more likely that we are going to struggle for another year or two before the economy begins to right itself.