There has been discussion over the job crisis in the mainstream media lately… or not? Well, it depends on who is doing the talking. Joe Biden does not seem to think there is, as he recently declared, “Ladies and gentlemen, I come here today with a very, very simple message: Manufacturing is back. Manufacturing is back,” at a campaign stop in Iowa, according to a White House press release. He continued, “30,000 new manufacturing jobs just since 2010; more than 15,000 new manufacturing jobs here in the state of Iowa; the fastest growth in manufacturing since the ’90s.”
USAToday picked apart Biden’s overall claims and found that he overstated the amount of manufacturing jobs lost since President Obama was elected, by 1.1 million, which actually happened in 2009, according to the Bureau of Labor Statistics. Biden also claimed that 430,000 new manufacturing jobs were added since Obama was elected, but failed to mention that 661,000 were actually lost. Doesn’t that mean that America has 231,000 fewer manufacturing jobs since Obama became president?
Regarding manufacturing jobs specifically, a study from the bipartisan Information Technology & Innovation Foundation states that “it would take until 2020 to return to where the economy was in terms of manufacturing jobs at the end of 2007.”
Ben Bernanke: The Job Market is “Far from Normal”
Despite “strong hiring,” Ben Bernanke told the National Association for Business Economics that “Further job gains will likely require more robust consumer and business demand.” He stated that “The number of people working and total hours worked are still significantly below pre-crisis peaks” and noted that the market is “far from normal,” according to Bloomberg BusinessWeek. The article went on to say that the Federal Reserve thinks the economy will falter and stated that “Americans aren’t seeing big pay increases, gas prices are rising, and Europe’s debt crisis could weigh on the U.S. economy.” In September, Bernanke famously lamented about a “job crisis.” The jobs situation in the United States is troubling on many levels, especially worrying is that many people who have given up on looking for jobs are not counted in the overall numbers of unemployed, actually raising the stated statistic of 8.3% unemployment.
It is difficult to trust economists, politicians, and other “experts,” as they have led America down this path in the first place.
Is the Economy being Ignored on the Campaign Trail?
There has been attention given to short-term economic recovery, but according to an opinion piece on CNN, “politicians in both parties have generally avoided the types of long-term structural challenges that are really at the heart of national anxiety and which greatly threaten America’s ability to compete with China and other rising economic powers.” The article points to industrial jobs lost, as many have been shipped overseas, and the “urban crisis,” which has “decimated pockets of America.” Unfortunately, it is all too easy for politicians and others to distort figures; as there are many conflicting statements, it just depends on who is doing the talking.