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NEW YORK (CNNMoney) — Everyone in Congress says they want to help create jobs and economic growth.
But federal agencies and government contractors in the private sector, which actually hire people, may find that ironic. They are still in the dark about future funding levels because lawmakers have not said whether they will replace heavy-handed automatic spending cuts set to take effect next year.
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As long as Wall Street and venture capitalists continue to reward corporations for off-shoring and downsizing, we continue to play the fool when we express shock that the U.S. economy is not creating many new jobs.
By Jeffrey Pfeffer, guest contributor to Fortune
FORTUNE — The U.S. seems to be shocked that its economy isn’t creating many jobs, and each monthly report on the unemployment rate and the number of new jobs somehow stimulates more handwringing. I’m not an economist, labor or otherwise, but simple observation suggests one significant contributor to the nation’s job crisis — for a long time, maybe even decades, we have been waging war on jobs and those who hold them.
Read the Fortune article.
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Forget deflation. U.S. consumer prices jumped in January for the second month in a row — and it wasn’t just soaring costs for gas and food. Americans are beginning to pay more for clothes, rents and travel, new data released Thursday show.
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