More evidence that America is experiencing a jobless recovery
A WEEK ago, Americans were told that their economy had expanded for a second consecutive quarter, and rapidly at that: output grew at an annual rate of 5.7%. This week, they are reminded that a return to growth has yet to benefit the jobless. The economy lost 20,000 jobs in January, a decline driven by the loss of 75,000 jobs in the construction sector. Economists had forecast an increase in employment of around 15,000. The unemployment rate, based on household rather than establishment data, showed a slight improvement, dropping from 10% to 9.7%, but nearly 15m Americans remain unemployed. As Larry Summers put it in Davos last week, the American economy is experiencing "a statistical recovery and a human recession".
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From American.com: A much-needed reminder that despite the recent upturn in the jobs market, there is still an awfully big employment hole to fill, as JPMorgan economist James Glassman points out: A useful way to assess the challenge for the US economy...
- No Depression
Like I've been saying. . . Daniel Amerman, with thanks to Will: Making 9 Million Jobless "Vanish": How The Government Manipulates Unemployment Statistics By Daniel R. Amerman, CFAOverviewWhen we look at broad measures of jobs and population, then...
- I Can't Stand It Anymore
having more & more of Epa's Howard Beale moments lately. . . PLEASE TELL ME HOW THE FUCK THEY CAN SPIN IT AS AN IMPROVEMENT IN THE JOBLESS RATE WHEN A PARAGRAPH EARLIER THEY SAID IT WAS BECAUSE PEOPLE GAVE UP LOOKING FOR WORK! newsmax: Unemployment...
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Unemployment rate down because people quit looking for work. Stupid fucking numbers games The unemployment rate dropped to 9.5 percent for the month of June even as the U.S. government dropped 225,000 Census jobs, the Labor Department reported Friday...
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