Posted by Tina
Unemployment and underemployment continues to be high and the income gap in America is as bad as it was during the Great Depression after five years of the Obama hope and change economy. Hope Yen of the Associated Press:
WASHINGTON (AP) — The gap in employment rates between America’s highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for The Associated Press.
Rates of unemployment for the lowest-income families — those earning less than $20,000 — have topped 21 percent, nearly matching the rate for all workers during the 1930s Great Depression.
U.S. households with income of more than $150,000 a year have an unemployment rate of 3.2 percent, a level traditionally defined as full employment. At the same time, middle-income workers are increasingly pushed into lower-wage jobs. Many of them in turn are displacing lower-skilled, low-income workers, who become unemployed or are forced to work fewer hours, the analysis shows.
“This was no ‘equal opportunity’ recession or an ‘equal opportunity’ recovery,” said Andrew Sum, director of the Center for Labor Market Studies at Northeastern University. “One part of America is in depression, while another part is in full employment.”
The President will speak today from the rose Garden of the White House on the economy. Will he admit his policies are not working and change course? It’s unlikely. The President has continued to play president in campaign mode as if he were merely an observer:
“The folks in the middle and at the bottom haven’t seen wage or income growth,” Obama said on ABC’s “This Week.”
We know…we’re still waiting for some of that promised change.
In fact, the left would rather die than admit that <a Ronald Reagan was right.
If we want Americans to find good jobs and build personal wealth again we need to leave this airy fairy hope and change behind and embrace the vibrancy that flows when entrepreneurs are set free to invest and create growth and opportunity. We need to return to the American values of individual freedom and industry that built the greatest nation the world had ever seen.