Jobs created overseas as 10% nominal (20% real) DISemployment in the US is normalized

lambert's picture

Congratulations, Barry! You're doing great:

But the jobs are going elsewhere. The Economic Policy Institute, a Washington think tank, says American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the U.S. The additional 1.4 million jobs would have lowered the U.S. unemployment rate to 8.9 percent, says Robert Scott, the institute's senior international economist.

Wow, 8.9%. Wouldn't that be great?

And look around you. It's not like there isn't work to be done. Roads, sewers, broadband, weatherizing. It's just that the financial class wants to invest their money -- which, after the bailouts, is our money -- outside this country. Plus, high DISemployment here means you've got thousands of people fighting for jobs as WalMart greeters. It's a win-win!

If you liked this post, buy the author some books.

Comments

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Randall Kohn's picture

So I guess the Dems don't suck 2% < the Pugs after all.

Maybe 1%?

JFK has been shot, we miss him a lot
He always knew what to do

-- Philly Cream

letsgetitdone's picture

8.9%

is better than 9.8%.

lambert's picture

It's better than a poke in the eye with a sharp stick

That's true.

But it's still horrific and permanent, and also understated.

First they ignore you, then they ridicule you, then they fight you, then you win. -- Mahatma Gandhi

Help the hamsters with their winter heating bill ...

… as they power the wheels that turn the servers at The Mighty Corrente Building. Please, won’t you help them keep their cages shiny?

No PayPal Account required! Give the hamsters immediate relief!

Or Subscribe to make a monthly payment!

Corrente is completely supported by contributions from readers. Thank you!

Download Citibank Plutonomy files

Part 1 [PDF]

Part 2 [PDF]

Good reading! Favorite quote: What could go wrong?
Beyond war, inflation, the end of the technology/productivity wave, and financial collapse, we think the most potent and short-term threat would be societies demanding a more ‘equitable’ share of wealth.

The 12 Word Platform

1. Medicare for All

2. End the Wars

3. Tax the Rich

4. A Jobs Guarantee

Senior fellows of The Mighty Corrente Building

Leah (CA), Lambert (PA/ME), RDF (??), BDBlue (DC), Hipparchia (FL), MsExPat (NY), letsgetitdone (DC), twig (LA), Tony Wikrent, (NC), jawbone (PA).

Corresponding fellows

danps.

Western Coordinator

coyotecreek

Correspondents

Health care reform: DCBlogger.

Fellows emeritus

mjs, Riggsveda, Tresy, Tom, hekebolos, chicagodyke, shystee, and Xenophon, Vastleft (MA), Sarah (TX).

Random term

Some of the People All of the Time. Contributed by alert reader Ed Drone. Usage example: "A SPAT just can't undrink the KoolAid."

I support Americans United for Separation of Church and State.

Americans United is dedicated to preserving the constitutional principle of church-state separation as the only way to ensure religious freedom for all Americans.