I love baseball, but when the commissioner of Major League Baseball (MLB) Allan H. "Bud" Selig makes $19.0 million annually along with half a million dollars for expenses, you have to wonder about the sanity of the value assigned to various jobs. Then there is Vikram S. Pandit, the CEO of Citigroup, Inc. (NYSE/C) who was recently forced to resign. In 2011, the bank was saved by the government and was recovering, but Pandit still made around $14.0 million. I'm sure Pandit will not be hurting for money or needing to work to pay the bills.
Then there are the 22.7 million or so Americans who are unemployed or underemployed, with about 13 million fully unemployed, all looking for work. These are not good jobs numbers, as many of these people are taking minimum-wage jobs just to fight off the creditors and put food on the table. President Obama and Governor Romney have both emphasized the need to drive up the jobs numbers in their campaign and debate speeches. I hope they are serious in their intentions.
The key non-farm payrolls jobs numbers for September were good, with the unemployment rate breaking below the eight percent threshold; albeit, the reading is still much higher than it was in the pre-recession era. We not only need jobs; we also need good skilled jobs numbers.