["from London Free Press, April 6 2013"]
London is not alone at making an inadequate response to rising unemployment. For decades 5 - 6% unemployment was the norm. The new normal rate is now much higher across the country. And government and big business practices are hopelessly inadequate to meet the problem head on.
["Will 9 - 10% become the new normal?" London Free Press]
Please note the last line in the above photo, i.e., 'Local Jobs Breakdown'. Though it actually acts as a heading of a list of job gains and losses across certain sectors, it made me think about possible reasons for the last decade of job breakdowns in our country:
Corporate taxes have declined in the last decade while jobs losses have mounted. The 'job creators' (and some of the wealthiest among us) are obviously not doing their job. Maybe they are too busy spending what should be considered our economic stimulus money.
["Most job creators don't know you exist. Now what?" gah]
Government tax revenues have declined, chiefly thanks to tax cuts, and public service cuts have followed. More job losses. More people not spending money. Job creation is lost as well.
Governments hesitate to raise taxes to increase revenues to keep people at work. Governments aim for zero taxes rather than helping people get back to work. Modern priorities are 'fewer workers', not 'more workers.'
In government and business, expensive 'smart' machines are gaining employment faster than new graduates. Smart equipment is replacing middle-aged employees who are now expected to stay in the game until age 67, not 65.
["Let's give our collective heads a shake" gah]
As well, consumers are in love with cheap goods from China and other countries.
Why is our thinking so 'outta whack?'
Photos by GH
Please click here to read 10% unemployment is coming
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