Home | Forums | Bible | +Width | Subscribe | Member Login

Friday, August 17, 2018   11:19:06 AM  
 Welcome to The Omega Letter   Daily Briefings Commentary News Room   Contact OL Site Map How Do I?
Testimonials Prophecy Israel Globalism Terror In Defense Around the World War News Witnessing Perspective Commentary

Omega Letter Member Log In
Luke  21 : 28
And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draweth nigh.
Read Today's Proverb - Chapter 17
Why Subscribe?
Subscribe Online   Online
Subscribe By Mail   By mail
Public Registration



Zeteo 3:16 with Alf and Alesia Cengia




The End The Book Part 6




Bible Prophecy News Christian Current Events

The Omega Letter Commentary Archives ...

Open Text: Exact Phrase:

Itís About Jobs
Commentary on the News
Monday, July 12, 2010
Ed DeShields

It is difficult to imagine the personal anguish that some 9 million Americans feel when pick up their unemployment checks this week.  As the news tries to spin the monthly job report, it is clear that a few more private sector jobs are not enough.  We need 225,000 every month for 3 years to re-employ the 8 million workers who lost their jobs.  Additionally, we need another 125,000 a month just to keep up with population growth.  Instead we’re still losing.

It will most likely take many more years to replace those jobs lost during the Great Recession.  If the economy has a chance at recovery it’s going to take job growth (if the debt bomb doesn’t destroy our economy first).  During the boom economy of the 1990’s, the Clinton administration created about 12 million jobs, largely due to a massive run-up in housing prices.  Jobs were created as consumers used the equity in their homes as piggy banks and spent wildly.  The Bush administration didn’t fare so well.  Only three million jobs were created as the bubble stretched to the bursting point.  That’s enough to keep the job/population balance in check, but the housing bubble popped and you know the rest of that story.

One way to look at unemployment is to look at the percentage of the total population that has a job. That number has been rising, more or less, for almost 50 years as the economy grew and more women moved into the work place. However, there has been a large drop suddenly.  Almost 5% of working people in the US have lost their jobs in the last year.

In a recent survey eight percent of businesses say they plan to reduce employment further (that’s up) while 10% say they plan to hire (that’s down).  So the business community is saying they aren’t hiring, if at all.  That’s not going to fare well for the economic picture or for the 9 million distressed souls standing in the unemployment line. 

Our economic picture is about jobs and job numbers aren’t going to grow if our economic engine doesn’t have the fuel to move forward.   The engines of growth are loans from banks but loan growth has slowed down recently, again.  The other engine is the money supply.  And it too, has been falling over the last quarter as the stimulus money begins to fade.  This doesn’t bode well for our economic picture in the months ahead.   There are so many challenges before us. 

Beginning next year the Bush tax cuts will expire and with it many more jobs.  And, as one reporter recently exclaimed in discussing the debt crisis – “God help us”.   It’s anyone’s guess what happens from here.  We very well could experience a slow and tenative recovery only to face a debt trap from which there is no easy escape.

One final note.  I will be traveling the country in the next two months on a speaking tour.  My wife and daughter will be joining me on the first leg of our western tour which begins this morning in California and tag along for two weeks as we motor home the country.  It’s hard work, but we will steal a few days to see the country via the road while we talk to several thousand folks about their feelings on the economy.  It will be interesting to hear how others are coping with the Great Recession and see how they view the future before us  -- from their point-of-view on the street.   I hope to communicate this with you in the next few weeks.         

About Ed DeShields

Last week: Three Feet of Ice

Current Article Ranking: Average Rank of 3.36 Stars

Rank This Article: Rank this Article 1 star It's an article.
Rank this Article 2 stars It's informative.
Rank this Article 3 stars I liked it.
Rank this Article 4 stars Inspiring!
Rank this Article 5 stars It's a home run!

If you have already Registered, then Login and start a discussion.
Share on Facebook
OmegaLetter Exclusive Commentary
Our Will Be Done Who is Daniel Chapter 8 Talking About? Battlefield Earth Experiencing Prophecy Burn-Out Jesus as Judge
    Rss Feeds

Member Contributed Articles
Just Thinking Stage Setting On Steroids--2017 Prophetic Year in Review Professor Grant Horner's Bible Reading Plan Modified A Life (and Death) Worthy of the Gospel Sometimes Life Sucks but God is Good

Omega Letter Links
Fight For JoyGot Christianity?Hal LindseyJack KelleyJewish VoiceLion & Lamb MinistriesNow The End BeginsOilprice.comOlive Tree MinistriesOmegaletter MediaOther SitesProphecy TrackerProphecy UpdateProphezineRapture ForumsRapture ReadyReasonWorld Prophecy NetworkWorld Watch Daily

The Omega Letter Bible Prophecy Christian Intelligence