President Obama has been highly criticized for making this statement, though it seems to me to be quite correct. After all the business of private industry is not to employ people, but to make profits, hopefully increasing profits; yet the mass media and opposing politicians seem to believe otherwise. In fact, a part of the business of business is to minimize the number of employees. If they could get by with no employees to minimize costs, they they would. This is at the heart of our current problems in that American industry is able to make very good profits with minimum of hiring new employees.
I have written on the jobs disconnect between business and government before at:
http://stopcontinentaldrift.blogspot.com/2010/09/jobs-disconnect-between-business-and.html
One thing that is different in this recovery is that business is having to take the full load of increasing employment because state and local governments are decreasing employment of teachers, firemen, police and other public employees plus decreases by the Post Office. Thus the increased employment we are seeing today is business increases minus state and local government plus Post Office decreases.
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