“The unemployment rate fell in 45 states in U.S. states in January, a sign that nearly all of the country is benefiting from an improving economy and job market.
The Labor Department said Tuesday that only New York state reported a higher unemployment rate in January than the previous month. Unemployment rates were unchanged in four states.”
We need to focus on full production and broadening ownership of productive capital, which will secondarily result in the creation of jobs. The role of physical productive capital is to do ever more of the work, which produces income. Full employment is not an objective of businesses. Companies strive to keep labor input and other costs at a minimum. Private sector job creation in numbers that match the pool of people willing and able to work is constantly being eroded by physical productive capital’s ever increasing role. Over the past century there has been an ever-accelerating shift to productive capital––which reflects tectonic shifts in the technologies of production. The mixture of labor worker input and capital worker input has been rapidly changing at an exponential rate of increase for over 235 years in step with the Industrial Revolution (starting in 1776) and had even been changing long before that with man’s discovery of the first tools, but at a much slower rate. Up until the close of the nineteenth century, the United States remained a working democracy, with the production of products and services dependent on labor worker input. When the American Industrial Revolution began and subsequent technological advance amplified the productive power of non-human capital, plutocratic finance channeled its ownership into fewer and fewer hands, as we continue to witness today with government by the wealthy evidenced at all levels.
Sadly, the median household income is just over $49,000, while the annual median wage fell to just over $26,000, the lowest level since 1999. Unemployment is high and there is an accelerating displacement of labor workers by technology and cheaper foreign labor, resulting in greater economic uncertainty and unstable retirement incomes for the average American citizen––causing the average citizen to become increasingly dependent on government wealth redistribution programs. This is a downward trend that will not reverse itself because the productive sector exponentially advances job-displacing technology-based productive capital expansion. whose ownership is further concentrated among the rich minority.
We need to innovate in such ways that we lower the barriers to equal economic opportunity and create a level playing field based on anti-monopoly and anti-greed fairness and balance between production and consumption. The reform of the “system,” must be structured so that eventually all citizens produce an expanding proportion of their income through their privately owned productive capital and simultaneously generate consumer purchasing power.
http://economywatch.msnbc.msn.com/_news/2012/03/13/10671578-unemployment-rate-drops-in-45-states
