Job Creation Flat Lines as Middle-Income Americans Are Pessimistic About Earnings
(Washington D.C.) – Gallup’s Job Creation Index – along with the Unemployment rate – has plateaued in recent months. After experiencing significant gains in the first half of 2014, the Index – which tracks feedback from U.S. workers on whether their employer is hiring or reducing the size of their workforce – was unchanged from its previous monthly average. The lack of improvement in the Index is consistent with a national Unemployment rate that has remained stable – at 5.5 percent – in the most recent Unemployment report. The Unemployment rate among Hispanics actually grew to 6.8 percent, further widening the gap from the national rate. At the same time new data on Consumer Confidence show that middle-class Americans earning between $35,000 and $50,000 are sharply pessimistic about their future earnings.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“The Obama administration has failed to implement appropriate policies to drive sustainable economic growth in the country. Nearly six years into the recovery and employers once again find themselves with uncertainty in a struggling economy. Their ability to create jobs and increase production remains captive to an increasingly large government with more mandates and Regulation s.
It’s time for the President to work with Congress to help unleash the real drivers of growth and prosperity in this country. It’s time for reforms that limit the Regulation s harming small businesses, reduce the tax burden on families and workers, and enable talented workers from abroad to contribute fully to the U.S. economy in a way that boosts growth overall. Washington should begin to tackle these and other measures that will provide real assistance to entrepreneurs and workers who are falling further behind.”