by justinb
23. November 2009 19:32
In case you haven't heard, job growth projections have been pushed out, again, this time until second quarter of 2010. Now just how many times have job growth projections been revised? Good question...it's changes so frequently it's a bit hard to keep count. The previous job growth projection was for the first quarter of 2010, now pushed out to to second quarter of 2010. So in short, job seekers are basically put in a holding pattern for another 3 months minimum. Needless to say it's a good thing Washington passed the unemployment benefits extension bill as job seekers are forced to play musical chairs.
The current unemployment benefits extension allocates up to 20 weeks of additional unemployment benefits. That's a long time right? Wrong. When you look at the real picture, twenty weeks minus twelve weeks in wait mode, equals just eight weeks of cushion. So in essence, well over 16 million unemployed Americans have just 8 weeks of cushion. In the mean time economist are claiming that "the economy is doing just fine and doesn't need any more help from the government". Makes you wonder where country these economists live in. Employers aren't even picking up hiring for the holiday season when compared to traditional levels for previous years, but let the "economists tell it" - the job market situation is just fine.
The reality is that, this is classic smoke and mirror tactics designed to make job seekers feel optimistic about the economy when in reality there are no real drivers for job growth. Why should employers bring on new hires when they can step up production output with the staff already on the payroll. In other words, if employers can do more with less - why hire? That's precisely why employers aren't hiring across the board. Sure you have individual employers bringing on new employees, but you need a whole lot more than a dozen or so employers to hire to prompt serious job growth. So let's cut the BS and tell it like it is...job growth projections have been pushed out again because there are no real economic job growth drivers on the radar screen. Point blank. "If I'm lying, I'm flying". Show us the job growth drivers. 
