When you hear that jobs
are being created always consider:
One: Are jobs make-work
for government or are they permanent?
Two: Are the jobs full
time or part time? And if so, for how long?
If the work is for
government, are they unionized with special pension programs? If the
answers are that they are overwhelmingly government-oriented, you
know they may be phony and costly. Particularly when so much of the
so-called administration stimulus went to states which added
government jobs.
Another important
statistic: While economists may differ, spending for a government job
is known to have an economic multiplier effect of 1.4 or 1.5, On the
other hand, private jobs have an economic multiplier of close to 3.5.
So beware of job
claims during a recession, especially when you get those
politically-inspired varieties. (See
the Earl J Weinreb NewsHole® comments and @BusinessNewshole tweets.)
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