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Some Good News On Employment

|Includes: The Boeing Company (BA)

As far as the US economy goes, employment is certainly the 800# gorilla in the room. It doesn't take a doctorate in economics to figure out that Main St. will continue to suffer, as long as unemployment remains distressingly high.

As the gross numbers move around, I think that it pays to see just what sort of jobs are being produced, when there's an improvement. Earlier in the year, the Federal government hired a lot of folks to conduct the census, which certainly helped the gross numbers.

Of course, there were two problems with the jobs created. First, they were mostly of a low paying nature. $10-$15/hr. is certainly not a living wage. Secondly, they were temporary jobs.

Now, as we head into the holiday season, we're seeing something similar. Retailers have been hiring holiday help, and it wasn't all that long ago, that UPS announced they would be hiring 50k workers for the holidays. The same issues are at work, however; the fact that these are temporary jobs, with a relatively low rate of pay,

Today, however, Boeing announced the hiring of 1000 machinists for their Seattle production facilities. According to the Machinists' Union, this is the biggest hire of machinists since 2005. These are the kinds of jobs that will be needed to restore the broader economy.


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