One in eight American cities will have no growth in jobs in the two decades between 2001 and 2021, according to the latest employment report by the US Conference of Mayors. The report, released this week, outlines economic growth and employment prospects in 363 major metropolitan areas. It shows that employment conditions unlike anything seen since the Great Depression prevail in cities throughout the country.According to the report, which was compiled for the US Conference of Mayors by IHS Global Insight, an economics consultancy, 48 major metropolitan areas will not return to their pre-recession peak employment levels until after 2021. Forty six of those cities have had net job losses between 2001 and 2011, meaning they face the prospect of two "lost decades" of job growth. In all, 166 metropolitan areas, or nearly half, lost jobs between 2001 and 2011.
Even these grim projections are based on unduly optimistic assumptions about the pace of economic growth going forward. The authors of the report expect a growth rate of 3.5 percent in the second half of this year, up significantly from the 1.8 percent rate in the first three months of 2011 and considerably higher than most economists forecast.Does Barack do anything other than play golf and pose for the cameras?
I think I would be ashamed to show my face in public if I were president in this economy and had accomplished as little as Barack had. People are hurting and they can't continue to wait for the day when he finally manages to learn on the job.
He was never prepared for the job, he doesn't have the constitution to do the job, he really needs to announce that he's stepping down. Letting Joe Biden slide in might help the party. Joe can speak to workers without insulting them. But Joe's useless when he has to speak to workers on Barack's behalf. Barack is not trusted and it's because he's refused to do the work required.
This is C.I.'s "Iraq snapshot" for Wednesday: