Friday, December 5, 2014

America Back to work: More Jobs and Higher Wages: U.S. Recovery Starts to Hit Home

No selective amnesia or short term memory here, hence, I vividly recall the palpable desperation in the air as #44 placed his hand on Abe's bible and took the presidential oath of office.

I can't forget:

The Dow Jones was in a free fall, banks and lending institutions collapsing in debt, unemployment approaching depression like numbers, the American auto industry on the brink of shutting down all operations, the housing market deep under water.

The weight of the catastrophic Cheney/Bush co-presidency -- two wars fought on the credit card, lobbyist writing laws on the congressional hallowed floors, Reaganomics on steroids (rob the poor and give to the rich), energy policy developed by Enron, token response to one of the worst natural disasters in USA history (Hurricane Katrina) and the list goes on and on -- had just about broken the spirit of our country.

And no thanks to our do nothing congress, the USA economy continues to resiliently and now at bit more robustly recover under the stewardship of #44 (thank you sir):

After more than five years of elusive gains, ordinary Americans may finally be about to see the benefits of the recovery where it really counts: in their pocketbooks and wallets.
The Labor Department reported Friday that employers added 321,000 jobs in November — a much stronger number than expected — but perhaps even more significant was the biggest gain in average hourly earnings since June 2013.
Hourly earnings rose by 0.4 percent in November, double what economists had been expecting. That gain in hourly pay was significantly above the measly 0.1 percent increase in October, let alone the unchanged number in September. At the same time, the number of hours worked ticked up by one-tenth, adding to pay envelopes.

“The pairing of strong hiring and wage gains is a really strong indicator of the health of the economy,” said Tara Sinclair, chief economist at, a leading job search website. “Now, we want to see people coming back into the work force and also finding the right jobs for them in terms of wages, skills, and hours.”  read entire story

Now let's pray the mid-term elected GOP majority in the house and senate don't screw things up again.