These numbers are supported by Wynton Hall (www.breitbart.com) in an article dated 9/8/12. Mr. Hall states that if the labor force numbers were the same as when President Obama took office the adjusted unemployment rate would be 11.2% and the real unemployment rate would be just under 19%. Currently every fifth adult in America is unemployed and minorities are most impacted. Nationally, one out of two Americans are low income or below the poverty line and these numbers are higher in New Mexico.
Mortimer Zuckerman on http://online.wsj.com writing for the Wall Street Journal posted a column on 9/7/12 citing that more than eight million unemployed haven’t sought work in the past four weeks. The Bureau of Labor Statistics reports on the U-6 (underutilized labor) key indicator for employment health. This number includes those working part-time only because they are unable to find full-time work and represents approximately 15% of the workforce. Combined with the eight million who have dropped out of the workforce the real unemployment number is closer to the 19% cited by Mr. Hall.
Sheryll Poe reports in a 9/5/12 article at http://www.freeenterprise.com that since 2011 the US has dropped from 5th to the 7th most competitive world economy. Compounding the unemployment or underutilized problem is that most of the new jobs created are low-paying jobs in health care, recreational activities, and in the service industry. This has forced about 400,000 individuals per month, an increase from 7.9% to 15% of the population, to enroll in food stamp programs.
The hostile business climate that seems to permeate government at all levels from local to the national level contributes to this economic weakness. Some of the solutions proposed in the September/October issue of Harvard Magazine are to invest in better education, reform the regulatory environment, and simplify the tax code - all solutions that would improve the job opportunities in New Mexico.
The front page story on the 9/13/12 Las Cruces Sun-News was “Census: Poverty rate up in NM”. It reported that NM’s poverty rate is now 22.2% surpassing Louisiana who previously ranked last; median household incomes have declined about $2,000, and nearly a fifth of New Mexicans lack health insurance. Over 40% lack auto insurance.
Are you really better off now than you were six years ago? If not, is it time to replace the incumbents who have been unable to resolve the problems and elect individuals who will work together to find solutions and make the changes necessary to improve the lives of all New Mexicans? You decide!!!!
