Former U.S. House Speaker Newt Gingrich‘s latest Human Events column focuses on the national jobs picture as Labor Day approaches:
This year?s holiday is a particularly opportune time to reflect upon that message. America?s unemployment rate stands at a stubborn 9.5%. If you include those who are underemployed (working part-time but seeking full-time work) that number is closer to 18.4%.
Last week, the Labor Department revised second quarter economic growth down from 2.4% to 1.6%.
Sales of existing homes are at the lowest level since 1995.
The small business confidence survey is at the lowest level since the survey began in 2003. Overall, it has been 31 months since the recession started and the economy is still losing jobs.
This Labor Day, ask yourself: If America?s strength is indeed a product of the strength of the American worker, what does it tell us about America?s prospects when so many Americans are not working?
In other words, can America work if Americans aren?t working?
