Anyone Know Where We Can Find 10,600,000 Jobs?

Think about this. The U.S. needs 10,600,000 jobs just to get back to pre-recession unemployment rates. EPI:

The labor market is now roughly 10.6 million jobs below the level needed to restore the pre-recession unemployment rate (5.0% in December 2007). To get down to the pre-recession unemployment rate within four years, the labor market would have to add roughly 325,000 jobs every month for that entire period.

Even the OECD is reporting the United States needs 10 million jobs.

Creating jobs has to be a top priority for governments,” said OECD Secretary-General Angel Gurría, launching the report in Paris. “Cutting unemployment and fiscal deficits at the same time is a daunting challenge but it needs to be tackled head on. Despite signs of recovery in most countries, the risk remains that millions of people may lose touch with the labour market. High joblessness as the new normal can not be accepted and has to be tackled by a comprehensive policy strategy.

Even worse, the OECD estimates it's member countries need 80 million jobs!

Altogether, there are 47 million unemployed in the OECD area today. But taking into account people who have given up looking for work or are working part-time but want to work full-time, the actual number of unemployed and under-employed in OECD countries could be about 80 million.

We are now filled with pundits and pseudo finance writers proclaiming those jobs are not coming back and many Americans will never work again.

What is it about work being a requirement to survive these people, working at their nice cushy jobs, do not get? Are they hoping 10,600,000 people disappear to make the unemployment rate look better? The callousness and coldness towards the U.S. workforce is despicable. What's wrong with these people? The number 10,600,000 isn't just some figure on a spreadsheet, these are people! Real Americans who need real income to pay for food, clothing and shelter. Remember those? What used to be considered a basic right of every U.S. citizen?

Creating jobs has to be a top priority for governments,” said OECD Secretary-General Angel Gurría, launching the report in Paris. “Cutting unemployment and fiscal deficits at the same time is a daunting challenge but it needs to be tackled head on. Despite signs of recovery in most countries, the risk remains that millions of people may lose touch with the labour market. High joblessness as the new normal can not be accepted and has to be tackled by a comprehensive policy strategy.

Let's see, we have millions of jobs offshore outsourced by Federal and State contracts alone. Illegal workers make up about 5% of the workforce in the United States. We have over 3.65 million foreign guest workers. Now, hmmm, let's see, how could we immediately get 10,600,000 jobs for Americans who desperately need them?

The The Stop Outsourcing and Create American Jobs Act of 2010 (H.R. 5622) would go a long way to help create American jobs. The bill

deters corporations from using tax havens to hide assets and create jobs overseas by increasing civil and criminal penalties for illegal transactions involving a tax haven country, such as fraud, false claims, and tax evasion.

According to the non-partisan Government Accountability Office (GAO) in a study conducted in late 2008, an estimated 83 out of the 100 biggest public corporations have subsidiaries in tax haven countries or similar jurisdictions. Often, these subsidiaries are created by corporations to take advantage of foreign tax structures and replace American jobs with cheap labor.

The bill also requires federal agencies to request information about a corporations’ outsourcing practices when it applies for government contracts and allows preference for companies that have not outsourced jobs in the last year.

Make no mistake, the U.S. has 10,600,000 million jobs. The problem is this government and corporations are putting the American worker last in consideration. Our government traded away these very jobs due to special interest and multinational corporate demands.

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Did you say OECD wants to destroy or create 10,600,000 jobs?

There is a renewed push by Obama to pass CFTA, PFTA and now KFTA. In those agreements are new Kangaroo courts to arbitrate investments into contracts and re-write Article I of the U.S. Constitution, much the way NAFTA did with court supremacy of Amendments XIII, XIV, XV.

If that is not enough, we are soon to get a renewed push on 'Comprehensive Immigration Reform'. I apologize for any naive efforts to suggest that we matriculate, then unionize illegals, with no deal, no amnesty, no sale of citizenship. Apologize because I can see the train wreck ahead which only one side wins and by right, it goes to the Republicans on immigration.

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Burton Leed

what? The OECD said

nations should put job creation as job #1, it's at critical mass the job losses, as I've been screaming about and others, including midtowng's latest piece.

I don't know what you mean on "Comprehensive" immigration reform but from the sound, it's looks identical to the 2006/2007 agenda which is much more about cheap labor or labor arbitrage of all kinds, the "amnesty" is just a mask but the real thing is massive guest worker visas and to flood the U.S. labor supply.

On this site, I'm pretty much determined to stay out of the politics on this, it's such an insane topic and stick to labor econ. I'm also not going to deny that population, immigration does indeed affect labor markets and if you're putting your nation's citizenry first, I'm sorry, you cannot be the globe's labor market and expect good things to happen.

That said, it's not a black and white topic and either is wage repression. It has much to do with substitution effects and displacement, which in turn is dependent upon a host of other economic conditions.

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nice graphic on where jobs "are", by occupational sector, loc.

It's too large to be embedded, click here.

I have no verified any of these numbers.

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When was politics or immigration avoided?

Are you serious?
Politics and Immigration are everywhere on EP and in news. Im talking elector politics,
outsourcing, immigration, H1Bs averywhere

"
n this site, I'm pretty much determined to stay out of the politics on this, it's such an insane topic and stick to labor econ. I'm also not going to deny that population, immigration does indeed affect labor markets
.
"

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Burton Leed

in the comments

even there I'm wanting things to be based on verified stats and theory almost exclusively. The numbers speak for themselves as does the theory.

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speaking of economics w.r.t. illegal immigration

I stumbled across this article on AZ Central. I have no idea if this news outlet slants what politically, but they have tallied up all of the costs and benefits of illegals in AZ and it's just astounding. I know the wage quote is accurate for I've read those Academic papers previously (and I even checked the math!) but a lot of this I had no idea and it looks like they have grabbed the data straight from the gov. statistics, so I don't think they are making this up. Yoozer.

Last legitimate estimate I read of CA was about $11 billion per year in net costs.

Supposedly the inflation for food is about 10¢ if one paid a living wage instead of slave for AG workers. (i.e. trivial, the labor is a minor aspect of total supply costs).

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Political Economy

Politics has been so entangled in Economics for 160 years that Marx wrote the "Critique of Political Economy" to try to show the inseparability one from the other. No one has been able to separate History and Economics. Some call History "past politics". History is threaded into all the writings of Ricardo and Smith as well.

Good luck in purifying economics.

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Burton Leed

Wealthy Default on Mortgages the Most of Any Group

The wealthiest Americans are far more likely to default on mortgages than the poor or middle class. This should drive a lot of folks crazy. Really though, for them Gordon Gecko and the gospel of greed, the bankruptcy system creates this. You have to wonder if these people have the slightest moral compass. All that was said in the past few years about how class war was conducted by liberal elites ignores facts like these. The American upper class, as I have said, are in disconnect from the rest of us.

New York Time - Using Corelogic as a Source:
http://www.nytimes.com/imagepages/2010/07/09/business/09rich_graphic.htm...

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Burton Leed