The Bureau of Labor Statistics released the November employment numbers this morning. The good news is that the national unemployment rate dropped from 9% to 8.6% (which is the lowest unemployment numbers in nearly 2 years) and the ecomony added 120,000 jobs. This is great news going into the holidays. It picks up everybody’s spirits.
The bad news is the number of long term unemployed (those who have been unemployed for over 27 week) remained unchanged and accounted for 43% of the unemployed. And, what many people don’t realize is that we will need to create 153,000 new jobs each month just to reach 7% unemployment by the year 2017.
I have a challenge for Corporate America. It’s time to pony up. The road to economic recovery comes from the workforce. The more people that are working… the greater the demand for goods and services…companies need to produce more…the GDP goes up…taxes come in…debt goes down…life is good again.
My humble solution to this slow ecomonic growth and current employment situation is something I call “Hire One/Train One”. I challenge every US company with over 25 employees to hire and train one of our long term unemployed citizens. Teach them the skills necessary to re-enter the workforce and continue their careers. It will come back to you with increased business and drastically lower state and federal employment taxes
Our unemployment rate will drop like a rock and our GDP will return to the economic growth we saw in the 1990’s.
How about it Corporate America? Hire One/Train One