9 June 2004

8,000 fewer computer jobs than a year ago and 223,000 fewer than in January 2001

Paul Craig Roberts chimes in again with a detailed breakdown of the "248,000 jobs created in May 2004" being touted by the Bush administration and it's troupe of apologists.
Here is where the May jobs are: restaurants and bars 33,000; health care and social assistance 36,000; temporary help 31,000; retail trade 19,000; transportation and warehousing 15,000; financial activities 15,000; real estate 9,000; services to buildings and dwellings 8,000; education 8,000.

This repeats the pattern of last month and, indeed, of every month in the new millennium. Our economy is not creating jobs that are part of the high tech global economy or that require university education. The jobs that made America a land of opportunity where people could rise are missing.

If we add the 37,000 construction jobs created in May, then 213,000—or 86%—of May’s jobs are in sectors that do not face import competition and cannot be outsourced. Neither do they produce exports to close the massive trade deficit.

The US economy might be part of the global economy, but jobs are not being created for the US work force in that part of the economy.

Roberts fires a few salvos at New York Times columnist Thomas Friedman, who has eagerly trumpeted the joy of outsourcing.

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