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Title: Walker's Wis. Lost Most Jobs in Nation
Source: newser.com
URL Source: http://www.newser.com/story/144793/ ... -lost-most-jobs-in-nation.html
Published: Apr 26, 2012
Author: By Rob Quinn, Newser Staff
Post Date: 2012-04-26 04:56:31 by Ferret Mike
Keywords: None
Views: 18519
Comments: 59

(Newser) – Wisconsin Gov. Scott Walker's efforts to keep his job took a hit this week from a report showing how many voters lost theirs. Between March 2011 and March 2012, the state lost 23,900 jobs, more than any other state in the nation, according to the Bureau of Labor Statistics report. Some 17,800 of those were in the public sector, but the state also led the country in private-sector job losses with 6,100, reports the Christian Science Monitor. Only Mississippi and Rhode Island also saw the number of private sector jobs shrink in the same period.

Walker—who faces a recall election in June—has been playing up more recent data in his campaign, pointing out that the state gained 17,000 jobs in the first two months of this year. But another 4,300 jobs were lost in March, and his Democratic opponents note that Walker promised to bring 250,000 private sector jobs to the state in his first term. "He really put this number on the table. If anyone said, ‘Judge me by the jobs,’ it was Scott Walker,” a labor economist notes.

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Begin Trace Mode for Comment # 35.

#27. To: Ferret Mike (#0)

When I was in High School back in the early '70s, at football games the two schools sat on opposite sides of the stadium and the students would compete in a cheer: "We've got spirit, yes we do, we've got spirit, how 'bout YOU!" It was mindless fun, as it went back and forth and generated some excitement without rancor. Sometime in the last 30 years that good spirit was lost and the cheer is now: "Our team is red hot, your team ain't doodly-squat!"

This forum is apparently of the latter generations.

How about a few facts? (Not that the article is any example, as it did not detail which types of jobs were lost). Wisconsin is still struggling to balance their budget. It has among the lowest reserve (rainy day) funds among all the states. If the economy there is to recover it needs productive private sector jobs first to support whatever government services the people want.

Few understand Shumpeterian "creative destruction", which describes liquidating mal-investment (cutting your losses) to free up the investment capital for more productive pursuits. Cutting government jobs to prevent the further drag of debt on the state budget allows that saved money (both salaries and debt service) to be re-invested in more productive jobs.

Anthem  posted on  2012-04-26   11:55:07 ET  Reply   Untrace   Trace   Private Reply  


#32. To: Anthem (#27)

Cutting government jobs to prevent the further drag of debt on the state budget allows that saved money (both salaries and debt service) to be re-invested in more productive jobs.

Of course if those laid off employees are collecting unemployment benefits then the state is still shelling out money, but not getting the benefit of work in exchange while the exemployees are reducing growth-stimulating spending.

CARSON CITY -- If Gov. Jim Gibbons and legislators decide to lay off thousands of state employees to save money, the state still will be on the hook for paying their unemployment benefits, which would cost more than $1 million a month for every 1,000 workers affected.

Besides unemployment costs, the state would be obligated to pay laid-off workers for any sick leave and vacation time they have accumulated...

www.lvrj.com/news/laying-...t-taxpayers-83230487.html

lucysmom  posted on  2012-04-26   12:19:26 ET  Reply   Untrace   Trace   Private Reply  


#35. To: lucysmom (#32)

Acceptance of a short term loss in exchange for a 10 year loss (bonds) and the mega loss of a permanently larger government is an example of wisdom in the long run.

Anthem  posted on  2012-04-26   12:28:42 ET  Reply   Untrace   Trace   Private Reply  


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