Our citizens who are suffering the worst are the college graduates. Barely half of college graduates since 2006 had full-time jobs as discovered by a recent Rutgers University study. And it's not getting better: Graduates since 2009 are getting the worst of it. They are three times more likely not to have found a full-time job than those from the classes of 2006-08. The percentage of underemployed college graduates has soared from roughly 10 percent to more than 35 percent since 1967 another study showed. While our President hops from college campus to college campus lecturing students on the benefit of a college education, the market tells them that a large portion of them are either wasting their time or seriously overpaying. 16% of bartenders and the same percentage of parking attendants have a college degree. Someone should tell them they could be unemployed or get a job in hospitality without incurring huge debt.
Despite that fact, you might now expect a rant on how Obama’s policies have harmed the job market: there is no need. If it is not self-evident to you that something is wrong with the job market from the information above, there remains nothing else to say.
But what our president and his team do not understand is that if the job market were healthy, the income inequality issue would largely self-resolve. In a competitive job market wages are driven up naturally. People move from job to job advancing their careers and others get a chance to move up as positions need to be filled. If you don’t believe this because you have not seen it for a while -- move to North Dakota. You will see a living example of the remedy for what Obama pleads needs a government solution. We don’t need government intervention; we need more jobs.
Currently, employers dither and delay. They can pay lower wages because there are so many people clamoring for each position that is available. It is really a basic concept called supply and demand.
Mr. President, you would really help your citizens by getting out of the way and letting the capitalists take over to get the job market humming. Stop putting roadblocks in front of them. I know that is a pipe dream because he is a committed statist, but one can still dream in Obamaland.