Yes jobs are the answer, but they must be good jobs. I work in IT. I now make twelve thousand dollars a year less than I made in 2000.

Why is that the case?

Service jobs have moved to India. Manufacturing jobs have moved to China.
The government didn't reduce the H-1b level even during the 2001 recession. I can speak for IT, but I suspect that the pain goes across the board.

Salaries have gone down by 20% or more. What this does is remove the cream from the milk because it was the higher paying jobs that produced the highest tax revenues.