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Outlook for US economy still not optimistic

By Wu Chengliang (People's Daily)

15:35, February 10, 2012

The United States' non-agricultural employments had increased by 243,000 and the unemployment rate had decreased from 8.5 percent of December of 2011 to 8.3 percent, lowest record of the past three years, according to the latest non-agricultural employment report issued by the U.S. Department of Labor, in January of 2012.

U.S. President Barack Obama said that it is a sign showing the U.S. economy is recovering.

However, the employment and economic situations of the United States are still not optimistic. Employments have indeed increased a lot in the U.S. private sector, especially in such industries as service, manufacturing, medical care and construction, but the United States' net jobs have decreased by more than 5 million compared to that before the financial crisis.

In addition, due to the tight budget, U.S. governmental departments of various levels are still reducing staffs. It is worth noting that the recent decrease of the U.S. unemployment rate is connected with the situation that some unemployed people have retreated from the U.S. labor market. Currently, many Americans, who are doing part-time jobs or have lost the hope of finding a job, have given up efforts in finding a job.

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Dick EastMan at 2012-02-1697.114.96.*
The American economy will continue to fail until it adopts policies to those of Zhou Xiaochuan which take into account "total social financing" and evaluates exactly how and where new purchasing power enters the economy and how long it stays. What can the future be of an economy where the money is all bank debt that must be paid back principal plus interest. This is the source of deflation and economic depression for the masses .. but the deflation makes some very good "buys" for Chinese USD holders looking for bargains in foreign industrial assets to buy.
Todd at 2012-02-11108.12.104.*
The umemployed are no longer officially counted after a certain length of time. Giving the appearance that unemployment has decreased. Also the U.S. can't compete wage and benefit package wise in a global economy.
  

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