June 23, 2004

Subject Icon: It's the Stupid Economy
Posted by Foreign Correspondent Skates (Toronto) at 9:00 AM

Report: New Jobs Under Bush Suck

This comes as no big surprise to most Americans who've lost their job and found a new one since Bush ascended to the Sun Throne: your new job paid less and sucked more. The Kerry camp contents that new jobs are lower paying than the ones previously held by a majority of Americans forced out of work during the Recession.

CIBC World Markets, a Toronto-based investment banking firm, reached a similar conclusion in a report issued Monday. That study found that U.S. job creation since late 2001 has been concentrated in low-paying industries such as hospitality, education and personal services, while job losses have hit higher-wage sectors such as transportation, manufacturing, utilities and natural resources.

"The message is clear: The vast majority of the jobs that evaporated during the job-loss recovery were high-quality jobs," the CIBC study concluded.

Ironically, I had to emmigrate to Canada to find a job that paid as well as the job I lost in the U.S. last year. Canada's economy, while not booming, is still fostering high tech employment whereas Dallas (my hometown) is still downgrading high-tech jobs and pay. Until coming here, my income decreased each year since Bush took the throne (remember, the President's own laywers wrote that he was the Law now that we're at War with ... Everyone).


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