This situation won’t change any time soon, but recent news that the U.S. is short 11.5 Million jobs is disheartening, to say the least.
According to Shierholz’s analysis, the economy is down about 8.1 million jobs from where it was when the recession began, in December 2007. Considering population growth, the economy should have added 3.4 million jobs during the recession, Shierholz notes. To fully recover, the country would need to add 11.5 million jobs.
Democrats can pass all the half-assed stimulus bills they want. Republican Teabaggers can cut all the taxes they want. None of it will get those jobs filled any time soon because one of the root problems is our right-wing trade policies. Those jobs will not be filled in America because they’re filled by foreigners in their countries. Offshoring has been going on for quite some time. Corporations have increased their profits because they have lower operating costs but have charged more for their crappy products. The only downside is that Americans can’t fill jobs because they don’t exist in America any more.
We can begin fixing this problem after we change our self-defeating trade policies.