ObamaEconomy: Underemployed And Underpaid

Even the NY Times is forced to admit what everyone else except President “The private sector is doing fine” knows: the economy under Obama’s stewardship stinks at all levels

Throughout the Great Recession and the not-so-great recovery, the most commonly discussed measure of misery has been unemployment. But many middle-class and working-class people who are fortunate enough to have work are struggling as well, which is why Sherry Woods, a 59-year-old van driver from Atlanta, found herself standing in line at a jobs fair this month, with her résumé tucked inside a Bible.

The article describes the issues Ms. Woods is having, which include seeing her hours cut back and her pay cut, so she’s out there at a jobs fair, and the Times even mentions that she looks to her Bible for comfort.

These are anxious days for American workers. Many, like Ms. Woods, are underemployed. Others find pay that is simply not keeping up with their expenses: adjusted for inflation, the median hourly wage was lower in 2011 than it was a decade earlier, according to data from a forthcoming book by the Economic Policy Institute, “The State of Working America, 12th Edition.” Good benefits are harder to come by, and people are staying longer in jobs that they want to leave, afraid that they will not be able to find something better. Only 2.1 million people quit their jobs in March, down from the 2.9 million people who quit in December 2007, the first month of the recession.

We’re going into our third wreckovery summer, with no relief in sight, except the notion of a President Romney enabling economic policies that inspire prosperity. Right now, polls show that people think future generations will be worse off. Household income is way down. Expenses are skyrocketing. Recent college graduates are working low paying jobs with part time hours. If they can find a job. Baby boomers can’t afford to retire, leaving less jobs for younger people.

Though inflation has stayed relatively low in recent years, it has remained high for some of the most important things: college, health care and even, recently, food. The price of food in the home rose by 4.8 percent last year, one of the biggest jumps in the last two decades.

Remember when Sarah Palin was ridiculed by the media, including some conservative outlets like the Wall Street Journal and Fox Business Network, for saying food prices were going up?

People are looking for second jobs at places that pay minimum wage. They’re seeing their costs go up while their wages go down. And what is Obama doing? Offering work visas to some 800,000 illegal aliens, further eroding the job pool for American citizens, which would also lead to a reduction of wages. For political gain amongst Hispanics.

This is what happens when you elect an incompetent hyper-partisan with no real world experience, particularly in business.

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.

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