“The unemployment rate in the U.S. unexpectedly declined in January to 9.7 percent, the lowest level since August, while payrolls dropped as companies boosted worker hours and overtime instead of taking on new hires. Employment fell by 20,000 last month, reflecting a plunge in construction jobs and a drop in state and local government hiring.” When you read these two lines coming from Bloomberg this morning, do you ever stop for a second and think. National unemployment improved even though there was a loss of 20,000 jobs. How does Unemployment improve while jobs are being lost should be your common sense, rational question. Thank fully there is a simple answer. Many people that are looking for work, have now been looking for work for over 4 weeks and they are now considered NOT part of the official number. Basically according to the government, they are employed again for calculation of unemployment. Tell that to their families who won’t see a paycheck this week. I’m willing to bet the official number lowering to 9.7% won’t make them feel any better! CommentsLeave a Reply | FREE SUBSCRIPTION!Receive Emailed Articles as they are Posted. Click Below on RSS Feed!Jason's Thoughts!My goal is to use this format to bring important and timely ideas to the surface on recent events which I feel will affect all of us financially. ArchivesFebruary 2012 Categories |
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