December did not bring Americans any jobs. To the contrary, the private sector lost 13,000 jobs from the previous month.
If December is a harbinger of the new year, it is going to be a bad one. The past year, hailed by Republican propagandists and "free trade" economists as proof of globalism's benefit to Americans, was dismal. According to the Bureau of Labor Statistics' nonfarm payroll data, the US "super economy" created a miserable 1,054,000 net new jobs during 2007.
This is not enough to keep up with population growth--even at the rate discouraged Americans, unable to find jobs, are dropping out of the work force--thus the rise in the unemployment rate to 5%.
During the past year, US goods producing industries, continuing a long trend, lost 374,000 jobs.
But making things was the "old economy." The "new economy" provides services. Last year 1,428,000 private sector service jobs were created.
Are the "free trade" propagandists correct that these service jobs, which are our future, are high-end jobs in research and development, innovation, venture capitalism, information technology, high finance, and science and engineering where the US allegedly has such a shortage of scientists and engineers that it must import them from abroad on work visas?
Not according to the official job statistics.
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