On Labor...
On Monday, much of the employed population of America will be taking the day off. It is Labor Day, the "yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country." Today, we receive news that the unemployment rate in the United States has risen to 9.7 percent (up from 9.4 percent last month) - and that an additional 216,000 people were shed from productive employment in August. Certainly, the number of jobs shed is lower than in previous months. But it is no cause for celebration. The job market has yet to see any improvements as the result of all the many bailouts made to banks. Nor has the stimulus provided a much-needed positive boost to jobs creation at this point. As we light up the barbecues on Monday to celebrate "the social and economic achievements of American workers," it is clear that labor's achievements have been badly damaged as the result of the economic crisis. The abili...