John Tamny of Forbes
Not surprisingly, the latest unemployment report has elicited all sorts of hand-wringing over the future jobs’ picture for today’s workers. Former Labor secretary Robert Reich told USA Today that “We’re going to have high unemployment for the next few years,” and that “even when the jobs come back, they’re not going to be very good jobs.”
Newsweek’s Rana Foroohar recently dubbed those presently entering the workforce as “The Recession Generation,” noting that today’s workers will indefinitely earn less while saving more. The Jan. 8 unemployment numbers–which reported the loss of 85,000 jobs–created hysterical headlines, including one in The Wall Street Journal suggesting that the disappearance of this many jobs “Raises Pressure on Obama to Focus on Jobs.”
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