Obama Has the Solution For American Workers

On Monday, Obama appeared at a factory in North Carolina and gave a speech in which he argued that the government could boost employment in the U.S. by creating programs to train engineers and other skilled laborers, ease restrictions on tourism, and cut red tape on construction projects,

reported. While reducing government interference in construction projects may positively affect the American construction sector, Obama's other proposals seem a tad far-fetched. The U.S. dollar has been

against other world currencies over the past several months. That may already be having a positive affect on tourism in the country, as foreigners find that their money goes further in the United States with more favorable exchange rates. Easing restrictions on tourism certainly cannot hurt, but how many tourism-orientated jobs can really be created? Additionally, does the U.S. truly desire to have tourism make up a larger part of its economy? When one thinks of major tourist destinations like the Caribbean Islands, one does not also think of countries with powerful economies. As for new government programs to train skilled workers, while it appears to be a good idea in theory, it begs the question as to why it is not already happening. That is to say, if the United States needs a million more engineers, why is the free market not training these engineers? There are plenty of examples of market failure, but with an excellent university system containing plenty of engineering schools and millions out of work, it seems as though if the market needed a million new engineers, then there would be a million new engineers. Hopefully the government is able to stimulate job growth in some manner. With an unemployment rate north of 9%, jobs are badly needed in the U.S. economy. Obama's proposals, however, may fail to satisfy.

Traders who believe that Obama's policies will be implemented successfully might want to consider the following trades:

Traders who believe that job growth will remain weak in the U.S. for quite some time may consider taking positions in the following: