President Bush is patting himself on the back about job creation. Let’s take a look at the truth:
Population growth required 125,000 new jobs EVERY month just to stay even.
During the past three months we have NOT added the 375,000 new jobs.
Since Jan 2001, we have had 1.5 Million MORE people looking for work then jobs created.
Many of the new jobs do not pay a living wage and do not have benefits.
Average weekly wage after inflation is DOWN.
Consumers are increasing their spending by charging it on their plastic. The higher interest rates coupled with the higher credit cards balances are a real problem for the months ahead.
Yes we created more jobs but we are still 1.5 Million short since 2001. Individuals are NOT seeing an increase in the money they have to spend without charging it. For the majority of Americans, the Bush claim of a great economy falls on deaf ears.