Maintaining or creating more jobs for American workers is a complicated task.

Bank of America officials announced this week they intend to eliminate 12,500 jobs as a result of a merger with Fleet-Boston Financial Corp. The cuts are scheduled to begin this month and will be phased over the next two years.

Representatives of the banking giant said the company expects to gain about $650 million in savings from trimming overlapping operations and processes.

The “economy” is sure to be one of the prime issues in the 2004 presidential election, and the number of employed and unemployed American workers is a key part of that picture. It is understandable Democrats are using current high unemployment figures in their attacks on President Bush and claiming he and members of his administration are responsible for the high jobless rate.

Undoubtedly, there are situations in the United States in which the Bush administration’s policy has resulted in the loss of jobs, but it’s difficult to see how Bush can be blamed for job losses such as those associated with the above-mentioned merger of two giant financial firms.

Likewise, new technology and new automation are resulting in greater productivity, producing larger numbers of items, often at lower prices and with fewer workers. Where should blame be placed for this kind of job loss?

Many companies have turned to having their products manufactured or assembled in foreign countries where wages are lower. This has resulted in the loss of jobs, but what is a publicly owned company to do? Continue to build and assemble products here in the United States even if it weakens the company financially, perhaps even leading to its collapse and a loss of many jobs? Is it better to shift a greater percentage of its manufacturing and assembly of products to foreign facilities and remain financially sound?

The $64,000 question is how to develop new industries and new businesses that can flourish in the current U.S. business environment or come up with incentives or tax breaks that encourage American businesses and manufacturers to retain their U.S. plants. Offering government help or subsidies to keep jobs in the U.S., however, could cost taxpayers in many ways.

There is no easy answer to the unemployment matter, and, unfortunately, in many cases where positives are derived from certain actions and policies, there also are chances for almost as many negatives.

Unemployment or employment is a terribly important issue and, hopefully, our nation’s business and political leaders can figure out a policy that is a winner in every respect. It won’t be easy, and both Republicans and Democrats will try their best to make political points with whatever action is taken — or not taken.