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Is the Optimism Over Job Growth an Illusion?

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    FBN’s Lou Dobbs on new research showing recent jobs gains are for lower-wage positions.

  • Duration 5:08
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More important than quantity when it comes to the US jobs picture new research showing that while the economy is creating more jobs about.

Two million in the past your payroll withholding tax is actually down it's falling suggesting that many of the new jobs.

Are paying much less than a jobs that they're replacing -- the optimism for the jobs market in illusion that Lou Dobbs host of Lou Dobbs tonight joins us now it's interesting stat.

Look it is and it and it and it bears -- -- thing that we've seen throughout the past decade.

And that is that is people lose good paying middle class jobs are there in manufacturing.

-- -- in technology.

That we're seeing the replacement job once folks who get through what has been a very difficult period we've never had.

Unemployment last as it has over the course of the past three years but once they get through it.

They're taking jobs that in many cases are averaging more than 20% -- in the job they lost.

Particularly when it comes to there were three million jobs in manufacturing that have been -- over the past decade.

And particularly when it comes to those middle class jobs in technology what are -- may be an ancillary.

Industries.

It's a very.

It's a very tough situation for the individuals themselves.

But as as an economy here you guys are absolutely correct to focus on -- because.

They're the quality and the pay of those jobs is just not measuring up.

You know you mentioned manufacturing those were better paying jobs then of course when the auto companies were bailed out they had to renegotiate lower salaries.

Certainly Ford which did not receive government bailout money but did take an energy loan.

They be renegotiated lower salaries for just about everybody so in a way it isn't that -- up.

Appropriate behavior and therefore it reflects it does nobody -- -- like it certainly.

But it's more understandable in the wake of a severe.

Severe financial crisis started -- Entirely and just as the -- themselves are entirely rational and in a slow economic period.

And the adjustments to pay our entirely.

Rational and justifiable.

What isn't is did the dimension of this recovery.

Because we are not seeing innovation we're not seeing the great job and the job creation energy that we normally would -- Nor are we seeing the formation of new businesses that a rate that we would see.

-- warrants we get some of them you obviously the the entrepreneur old jobs and businesses that are they grow up around it.

And that is something -- no -- -- what's holding them back what's holding them back across this entire economy.

Our public policies that are disastrous and by the way I'm not -- this is not an Obama.

Slam.

He is certainly ago open.

Deservedly -- criticism for his policies.

But this goes back over a decade.

-- Republican administration and democratic administration.

We have seen a focus on quote and quote mega business big business.

But 70% of the jobs are created -- small business and the focus is not been there.

The policies are -- I mean it's -- Barbara we would look and if it gets so tiresome to hear the Republicans start Milloy got to do is cut taxes.

Cut regulation and everything all -- the answer bull.

You know they would be better -- at first -- -- it couldn't hurt but it's not an answer and we got to be big boys and girls are we gonna talk about answers because we got so what is the answer well let me finish.

The fact of the matter is.

That we have got to be big boys and girls and talk about straightforward.

Answers which means the following one we have got to generate.

And not leadership in this country.

To create confidence in our future.

We can't create confidence in our future.

If we have people who don't even share our values.

Are yet and I'm -- in the Republican Party in the Democratic Party.

Absolutely ignoring the middle class -- we think.

No word engineering in this country and we've imported H one B employees through engineering.

Those are well paying jobs in Silicon Valley at the end tells an Advanced Micro Devices and novellus is of the world and -- It that you know -- is that an answer going into that educational aspect.

We -- bad educational aspect is is absolutely critical part of but we have CEOs and we have business leaders talking about how many H one B visas to bring in rather than how in the hell do you get.

Young kids interested in math and natural sciences.

How do you start straightening out public schools charter schools magnet schools vouchers are part of the solution but the real answer hassle life.

In what we do with our community and neighborhood schools those public schools have always been.

They're great equalizer in American society.

And it is beauty is in shambles and we've got to be honest about what's going on the spirit of enterprise we need a little more of that absolutely you don't have some people not afraid to raise a little Howland talk honestly get rid of the orthodox -- -- The left and the right -- -- focusing on what made the country great which is our middle class and the American dream and do startups Lou Dobbs goodness thank.

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