back to article US economy hands IT a mixed bag in December

It looks like the IT industry is faring no better or worse than the US economy as a whole when it comes to creating jobs. Private sector companies in the United States added 212,000 jobs in December, to some a sign that the economy is improving and to others that it is just bumbling along. Governments at the local, state, and …

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FAIL

Globalization

Did the opposite that the Left predicted... instead of been a new force of colonialism, it is a inverse colonialism... where the west is the one getting economically drained and its inequality levels between poor and rich start to go toward something not far from a banana republic state of matters.

"Post-industrialism" it is a flop, not a positive and favourable evolution.

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Need productive jobs, not coconsumptive jobs

What is important is to generate jobs that are actually productive and generate value.

Far too many of the newly created jobs are in retail. These don't build value. All that they do is fuel consumption and debt - making the long-term problem worse.

Measurements like GDP and jobs don't make a distinction between consumptive activities (retail), inflationary activity (property prices) and productive activities (agriculture, manufacturing and export). As such these are terrible indicators for the actual state of an economy.

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The proper number for unemployment ought to be

out of work, able to do so, and would like to work. Neither the BLS nor the author's definition would accurately reflect unemployment. But it is damn near impossible to accurately arrive at such a number, so we use the BLS as an approximation instead. So long as they aren't bolluxing the numbers to make King Obama look good, that's okay. Me doesn't think that's the case though.

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Anonymous Coward

King Obama?

He got elected same as (almost) every other president. He'll serve a maximum of two terms same as (almost) every other president.

Oh. I see. You're one of "those".

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