Report On The US Job Market Looks So Terrific On The Surface While Being So Disappointing Underneath

[HomerRamone]

http://www.washingtonsblog.com/2014/05/almost-3-times-many-people-dropped-labor-force-joined.html

The unemployment rate dropped to 6.3 percent in April from 6.7 percent in March, the lowest it has been since September 2008 when it was 6.1 percent. The sharp drop, though, occurred because the number of people working or seeking work fell. The Bureau of Labor Statistics does not count people not looking for a job as unemployed.

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The number of women not in the labor force has risen to an all-time high. there was a loss of jobs in the 25-54 age group, And – in 20% of American families – no one works.

Despite what you may have heard, the huge numbers of people dropping out of the labor force can’t be attributed to retiring baby boomers.

In reality, throwing money at the big banks has led to a “jobless recovery” – a permanent destruction of jobs – which is a redistribution of wealth from the little guy to the big boys. (And see this. http://www.washingtonsblog.com/2014/02/money-hasnt-gone-1-gone-01.html )

And most of the new jobs being created are low-wage or temporary jobs.

[1000words]

1. Be happy, or you're a commie

http://www.democraticunderground.com/10024911310#post11


Go Team!

[BlindTiresias]

2. Yep

Just focusing on the numbers alone betrays a very superficial understanding of the problem.