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Paul Giorgio: It Was a Good Week for the US Economy

Wednesday, May 07, 2014

 

The economy is turning around despite Republican attempts to stymie an economic recovery, believes Paul Giorgo.

President Barack Obama and the US economy received very good news last week. The unemployment rate dropped to 6.3 percent, the lowest it's been in five years. We added 288,000 new jobs. This .4 drop put unemployment at its lowest level since Bush was in office. In addition, the Dow broke a new record closing at its highest point ever.

In the last 50 months 9.3 million private sector jobs have been created. Any lag in job growth can clearly be attributed to the decline of public sector employment. Governments on all levels have cut jobs and the federal government is at one of its lowest levels in a long time.

Baby boomers retiring at record numbers

These positive unemployment numbers come at a time when studies show that 10,000 baby boomers are retiring every day. So that the creation of almost 300,000 jobs is truly extraordinary.

The economy is turning around despite Republican attempts to stymie an economic recovery. The same week that the unemployment numbers were released the Republicans in the House under the leadership of Speaker John Boehner refused to extend unemployment benefits and voted against increasing the minimum wage.

Trickle up economics

It is clear that Republicans will do anything to halt any economic growth in this country. You may ask how extending unemployment hurts the economy. Those still unemployed will not have money to spend. Even the unemployed help to create jobs in the private sector. They still need to buy groceries, the still need to buy gasoline; they still need to pay phone or heating bills. All these create jobs in the private sector since someone has to sell them the items they need to buy and those people get a paycheck and spend their money so that other people service them and have jobs.

To turn a phrase, it is trickle up economics.

This brings us to the Republican rejection of a livable minimum federal wage. It is clear that in the new post Bush economy, many more people are struggling to make ends meet and you can't do it at $7 per hour or $280 a week.

Prior to the second George Bush, a minimum wage job was entry level and a step up. In the post Bush Great Recession a minimum wage job is a way of life for a great many Americans. What the Right doesn't realize or worse doesn't care about is how that not only affects the poor, but also affects the shrinking Middle Class.

Middle class is eroding

The Middle class used to be comprised of shop owners, middle managers in business and people in the public sector. Public sector jobs are scant nowadays and not many people are running out to start a small business.

This is the direct result of the new Republicanism that only cares about the few. When I was growing up, the Republican Party was the party of Main Street and small town America. Now it is the party of Wall Street and corporate America.

If America is truly to succeed, this must change. The Republicans must end their war on the working class.

 

Paul Giorgio is a longtime Democratic Party Activist who has worked on numerous campaigns. He was a Lead Advance Person for President Clinton & Vice President Gore. He was Deputy Director of Special Events for President Clinton’s first Inauguration. He has been elected a delegate to numerous Democratic National Conventions and recently served as one of President Obama’s representatives on the Platform Committee. In 2013 he was chosen as a Presidential Elector. He is the President of Pagio, Inc., publishers of Pulse Magazine, Vitality Magazine and Worcester Medicine.

 

Related Slideshow: Central MA Unemployment Rates #72 - #1

Here are the unemployment statistics for each town in Central Mass, ranked from least to most-

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#72

Harvard

Unemployment rate, August 2013: 4.4%

Unemployed: 140

Employed: 3,059

Total workforce: 3,199

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#71

Hopkinton

Unemployment rate, August 2013: 4.7%

Unemployed: 369

Employed: 7,523

Total workforce: 7,892

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#69 (Tie)

Berlin

Unemployment rate, August 2013: 4.9%

Unemployed: 79

Employed: 1,520

Total workforce: 1,599

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#69 (Tie)

Hopedale

Unemployment rate, August 2013: 4.9%

Unemployed: 159

Employed: 3,074

Total workforce: 3,233

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#67 (Tie)

Bolton

Unemployment rate, August 2013: 5.1%

Unemployed: 147

Employed: 2,733

Total workforce: 2,880

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#67 (Tie)

Southborough

Unemployment rate, August 2013: 5.1%

Unemployed: 257

Employed: 4,813

Total workforce: 5,070

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#66

Marlborough

Unemployment rate, August 2013: 5.5%

Unemployed: 1,283

Employed: 21,909

Total workforce: 23,192

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#65

Northborough

Unemployment rate, August 2013: 5.6%

Unemployed: 432

Employed: 7,259

Total workforce: 7,691

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#62 (Tie)

Mendon

Unemployment rate, August 2013: 5.7%

Unemployed: 196

Employed: 3,218

Total workforce: 3,414

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#62 (Tie)

Princeton

Unemployment rate, August 2013: 5.7%

Unemployed: 107

Employed: 1,764

Total workforce: 1,871

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#62 (Tie)

Topsfield

Unemployment rate, August 2013: 5.7%

Unemployed: 176

Employed: 2,910

Total workforce: 3,086

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#61

Boylston

Unemployment rate, August 2013: 5.8%

Unemployed: 134

Employed: 2,167

Total workforce: 2,301

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#58 (Tie)

Shrewsbury

Unemployment rate, August 2013: 5.9%

Unemployed: 1,084

Employed: 17,152

Total workforce: 18,236

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#58 (Tie)

Sterling

Unemployment rate, August 2013: 5.9%

Unemployed: 256

Employed: 4,112

Total workforce: 4,368

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#58 (Tie)

Westborough

Unemployment rate, August 2013: 5.9%

Unemployed: 525

Employed: 8,415

Total workforce: 8,940

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#56 (Tie)

Sturbridge

Unemployment rate, August 2013: 6.0%

Unemployed: 306

Employed: 4,763

Total workforce: 5,069

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#56 (Tie)

Upton

Unemployment rate, August 2013: 6.0%

Unemployed: 241

Employed: 3,752

Total workforce: 3,993

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#53 (Tie)

Douglas

Unemployment rate, August 2013: 6.1%

Unemployed: 290

Employed: 4,469

Total workforce: 4,759

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#53 (Tie)

Hudson

Unemployment rate, August 2013: 6.1%

Unemployed: 696

Employed: 10,740

Total workforce: 11,436

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#53 (Tie)

Milford

Unemployment rate, August 2013: 6.1%

Unemployed: 954

Employed: 14,670

Total workforce: 15,624

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#51 (Tie)

Oakham

Unemployment rate, August 2013: 6.3%

Unemployed: 65

Employed: 973

Total workforce: 1,038

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#51 (Tie)

Sutton

Unemployment rate, August 2013: 6.3%

Unemployed: 302

Employed: 4,500

Total workforce: 4,802

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#48 (Tie)

Holden

Unemployment rate, August 2013: 6.4%

Unemployed: 576

Employed: 8,430

Total workforce: 9,006

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#48 (Tie)

Paxton

Unemployment rate, August 2013: 6.4%

Unemployed: 158

Employed: 2,327

Total workforce: 2,485

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#48 (Tie)

Shirley

Unemployment rate, August 2013: 6.4%

Unemployed: 223

Employed: 3,269

Total workforce: 3,492

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#46 (Tie)

Ayer

Unemployment rate, August 2013: 6.5%

Unemployed: 283

Employed: 4,100

Total workforce: 4,383

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#46 (Tie)

Hardwick

Unemployment rate, August 2013: 6.5%

Unemployed: 94

Employed: 1,359

Total workforce: 1,453

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#45

Grafton

Unemployment rate, August 2013: 6.6%

Unemployed: 635

Employed: 9,043

Total workforce: 9,678

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#42 (Tie)

Hubbardston

Unemployment rate, August 2013: 6.7%

Unemployed: 163

Employed: 2,255

Total workforce: 2,418

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#42 (Tie)

Millbury

Unemployment rate, August 2013: 6.7%

Unemployed: 489

Employed: 6,787

Total workforce: 7,276

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#42 (Tie)

Petersham

Unemployment rate, August 2013: 6.7%

Unemployed: 43

Employed: 596

Total workforce: 639

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#40 (Tie)

Lancaster

Unemployment rate, August 2013: 6.8%

Unemployed: 240

Employed: 3,281

Total workforce: 3,521

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#40 (Tie)

Townsend

Unemployment rate, August 2013: 6.8%

Unemployed: 346

Employed: 4,738

Total workforce: 5,084

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#38 (Tie)

Charlton

Unemployment rate, August 2013: 7.0%

Unemployed: 491

Employed: 6,483

Total workforce: 6,974

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#38 (Tie)

Dudley

Unemployment rate, August 2013: 7.0%

Unemployed: 431

Employed: 5,696

Total workforce: 6,127

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#33 (Tie)

Auburn

Unemployment rate, August 2013: 7.1%

Unemployed: 613

Employed: 8,024

Total workforce: 8,637

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#33 (Tie)

East Brookfield

Unemployment rate, August 2013: 7.1%

Unemployed: 86

Employed: 1,129

Total workforce: 1,215

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#33 (Tie)

Holland

Unemployment rate, August 2013: 7.1%

Unemployed: 99

Employed: 1,291

Total workforce: 1,390

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#33 (Tie)

New Braintree

Unemployment rate, August 2013: 7.1%

Unemployed: 40

Employed: 524

Total workforce: 564

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#33 (Tie)

Rutland

Unemployment rate, August 2013: 7.1%

Unemployed: 313

Employed: 4,081

Total workforce: 4,394

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#32

Oxford

Unemployment rate, August 2013: 7.2%

Unemployed: 548

Employed: 7,032

Total workforce: 7,580

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#31

Uxbridge

Unemployment rate, August 2013: 7.3%

Unemployed: 536

Employed: 6,784

Total workforce: 7,320

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#30

Leicester

Unemployment rate, August 2013: 7.5%

Unemployed: 450

Employed: 5,565

Total workforce: 6,015

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#27 (Tie)

Ashburnham

Unemployment rate, August 2013: 7.6%

Unemployed: 236

Employed: 2,865

Total workforce: 3,101

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#27 (Tie)

Lunenburg

Unemployment rate, August 2013: 7.6%

Unemployed: 398

Employed: 4,850

Total workforce: 5,248

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#27 (Tie)

Northbridge

Unemployment rate, August 2013: 7.6%

Unemployed: 608

Employed: 7,383

Total workforce: 7,991

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#26

Spencer

Unemployment rate, August 2013: 7.7%

Unemployed: 492

Employed: 5,935

Total workforce: 6,427

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#24 (Tie)

Ware

Unemployment rate, August 2013: 7.9%

Unemployed: 394

Employed: 4,611

Total workforce: 5,005

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#24 (Tie)

West Boylston

Unemployment rate, August 2013: 7.9%

Unemployed: 259

Employed: 3,035

Total workforce: 3,294

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#21 (Tie)

Brimfield

Unemployment rate, August 2013: 8.0%

Unemployed: 152

Employed: 1,745

Total workforce: 1,897

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#21 (Tie)

Templeton

Unemployment rate, August 2013: 8.0%

Unemployed: 305

Employed: 3,520

Total workforce: 3,825

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#21 (Tie)

Westminster

Unemployment rate, August 2013: 8.0%

Unemployed: 297

Employed: 3,417

Total workforce: 3,714

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#19 (Tie)

North Brookfield

Unemployment rate, August 2013: 8.1%

Unemployed: 195

Employed: 2,224

Total workforce: 2,419

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#19 (Tie)

Palmer

Unemployment rate, August 2013: 8.1%

Unemployed: 508

Employed: 5,772

Total workforce: 6,280

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#18

Warren

Unemployment rate, August 2013: 8.4%

Unemployed: 209

Employed: 2,271

Total workforce: 2,480

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#17

West Brookfield

Unemployment rate, August 2013: 8.6%

Unemployed: 155

Employed: 1,652

Total workforce: 1,807

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#15 (Tie)

Royalston

Unemployment rate, August 2013: 8.7%

Unemployed: 52

Employed: 547

Total workforce: 599

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#15 (Tie)

Webster

Unemployment rate, August 2013: 8.7%

Unemployed: 723

Employed: 7,569

Total workforce: 8,292

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#13 (Tie)

Brookfield

Unemployment rate, August 2013: 8.8%

Unemployed: 163

Employed: 1,695

Total workforce: 1,858

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#13 (Tie)

Millville

Unemployment rate, August 2013: 8.8%

Unemployed: 158

Employed: 1,642

Total workforce: 1,800

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#11 (Tie)

Barre

Unemployment rate, August 2013: 8.9%

Unemployed: 244

Employed: 2,510

Total workforce: 2,754

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#11 (Tie)

Worcester

Unemployment rate, August 2013: 8.9%

Unemployed: 7,562

Employed: 77,653

Total workforce: 85,215

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#9 (Tie)

Ashby

Unemployment rate, August 2013: 9.0%

Unemployed: 149

Employed: 1,503

Total workforce: 1,652

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#9 (Tie)

Orange

Unemployment rate, August 2013: 9.0%

Unemployed: 332

Employed: 3,356

Total workforce: 3,688

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#7 (Tie)

Blackstone

Unemployment rate, August 2013: 9.2%

Unemployed: 488

Employed: 4,824

Total workforce: 5,312

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#7 (Tie)

Clinton

Unemployment rate, August 2013: 9.2%

Unemployed: 676

Employed: 6,652

Total workforce: 7,328

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#6

Winchendon

Unemployment rate, August 2013: 9.3%

Unemployed: 453

Employed: 4,407

Total workforce: 4,860

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#5

Leominster

Unemployment rate, August 2013: 9.6%

Unemployed: 1,937

Employed: 18,141

Total workforce: 20,078

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#3 (Tie)

Southbridge

Unemployment rate, August 2013: 9.9%

Unemployed: 787

Employed: 7,127

Total workforce: 7,914

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#3 (Tie)

Gardner

Unemployment rate, August 2013: 9.9%

Unemployed: 934

Employed: 8,514

Total workforce: 9,448

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#2

Fitchburg

Unemployment rate, August 2013: 10.0%

Unemployed: 1,829

Employed: 16,435

Total workforce: 7,914

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#1

Athol

Unemployment rate, August 2013: 10.5%

Unemployed: 543

Employed: 4,647

Total workforce: 5,190

 
 

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