It is February 2004 in America, the presidential election campaign is beginning, and the american media is supporting the democratic party, as usual.
For example, Newsweek magazine, March 1, 2004, page 32, says: "Most observers say this recovery has been more tepid than even the jobless recovery of the early '90s"
The recession was in 1990. The recovery began in 1991. By 1992, few jobs had been created, so the republican party lost the election of 1992. by 1994, few jobs had been created, so the democratic party lost the election of 1994. By 1996 many jobs had been created, so Bill Clinton was reelected president and the republicans were reelected to congress. So the recovery of the early 1990s took four years to create many jobs.
The latest recession began in 2000, before George W. Bush was inaugurated as president. The recovery began in 2001. So if George W. Bush is the same as Bill Clinton, then there will probably not be many jobs until 2005. If there are many jobs before 2005, then George W. Bush is better at managing the economy than Bill Clinton. If there are not many new jobs in 2005, then George W. Bush is worse at managing the economy than Bill Clinton. 2004 is too soon to say if the 2001 recovery is worse than the 1991 recovery.
The reason that Newsweek says that 2001 recovery is worse than the 1991 recovery is because Newsweek is biased against George W. Bush and the republican party.
The democratic party candidates for president are saying that there are too few jobs because too many jobs are leaving America.
Cheap imports and cheap immigrant labor are deflationary. The federal reserve system should be creating money to compensate for the deflation, which will result in lower interest rates. The creation of money will stimulate the economy, and result in the creation of additional jobs. So cheap imports and cheap immigrant labor do not cause unemployment, because new jobs are created to replace the old jobs which are lost.
If the government restricts cheap imports and cheap immigrant labor, that is inflationary. The federal reserve system will have to reduce the money supply to compensate for the inflation, which will result in higher interest rates. This will cause a recession, and unemployment will increase. So restricting cheap imports and cheap immigrant labor will not save american jobs.
The american media will not say that because that would make their beloved democratic party look bad. George W. Bush will not say that because he is an idiot.