Every month I swear I’d rather wake up to be somebody scary like Gov. Tom Corbett than write another frigging blog about the unemployment numbers.
It truly is a distinctly sordid and depressing subject to write it, but a thoroughly enjoyable read nonetheless for you because I’m funnier than Joan Rivers’ latest plastic surgery.
Besides, job numbers are just numbers unless you dig under them. And I’m normally too lazy to use a pick and shovel.
But I will do the hard labor just for all of you kind folks.
The Bureau of Labor Statistics today reported 192,000 new jobs in February (220,000 new jobs in the private sector and a drop in government employment), and a drop in the overall unemployment rate from 9 to 8.9 percent.
But do not be deceived. Those numbers ain’t making cash registers scream ka-jing! across the land.
Most of the new jobs created since February 2010 (about 1.26 million) pay significantly lower wages than the jobs lost (8.4 million) between January 2008 and February 2010.
The key news isn’t jobs, it’s wages. And wages have restrictor plates on them.
If people want more jobs they need to take pay and benefit cuts. Exactly what Americans have been doing. Soon we will be an entire army of Red Roof Inn desk clerks and Denny’s fry cooks.
The unemployment rate will continue to decline. But so will the pay and benefits of most Americans. The doo-doo we find ourselves in is deeper than Lake Ontario.
At least our pockets won’t be straining from having blimpo coinage in them. And we won’t have to worry about what fancy entree to order in one of those upscale fine dining joints that have enough ferns to give the silverware a good dose of hay fever.
Seriously, we all should be experiencing a sense of dread rising like summer heat off two-lane blacktop. The middle class soon will be as extinct as the dinosaur.