U.S. Job Growth is Tanking Due to Obama Fiscal Policies

This is not a good trend to see at this time.

The United States Department of Labor (DOL) announced that, in May 2012, only 69,000 jobs were added to the workforce.  This is considerably less than the 165,000 that were expected by those who supposedly are in  the know.  Shown above is a monthly USDOL chart of job growth that illustrates the declining trend that has occurred over the past four months.

The United States must add 250,000 jobs per month for three to four years to bring employment back to pre-recession levels.  The U.S. has 5 million fewer jobs today than it did five years ago.  At this point, that kind of job growth seems unattainable under current Obama administration fiscal policies.  The European economic crisis is unlikely to subside soon.  As events of recent weeks have indicated, the situation will most likely get worse before it ever gets better.

A weakening U.S. domestic economy, the ongoing European economic crisis, and a slowing down of the Chinese economy are all undermining the confidence of business executives and consumers.  Depressed hiring will continue until these situations clear up, which may never happen until politicians get serious about solving the problems.  Quick, easy solutions to these problems do not exist.

Our U.S. economic woes will be solved only until and when our politicians decide to stop spending, reduce taxes, reduce costly regulations, eliminate many wasteful entitlement programs, reduce the size of a spendthrift government, and become petroleum independent of other countries.  At the moment, the prospects for the U.S. economy to generate positive momentum looks bleak to none until our politicians make a paradigm shift in their current entitlement, nanny-state mentality.

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