Unemployment and the Government
There has much talk in the last few months, as the 2004 presidential election nears, that the current administration has 'lost' over 3 million jobs. You'd think the layoff notices were being mailed from the White House to hear some talk.
The truth of the matter is, administrations take credit when unemployment drops and get blamed when it rises even though they have little control over the degree of unemployment. One need only look back at the great depression of 1929 and the economic resurgence in the late 1930's. No, it wasn't Roosevelt's New Deal that caused the employment resurgence. The truth is, World War II ended our economic depression. The WPA may have put a few thousands to work allowing them to feed their families, but the great majority of unemployed saw no benefit at all. The resurgence in employment began when war materials were needed for the war in Europe. And after Pearl Harbor, millions of male workers were removed from the country's workforce when they entered military service.
Whether the economy and employment recovers in time for the '04 presidential election is dependent on businesses spending and hiring. There is, in fact, little the current administration or anyone who would be elected and replace George Bush, can do to increase the rate employment and create jobs. Anything any of them say to the contrary is pure politics - nothing more.
09/16/03 ( 561 )
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