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 in another sign that the economy is facing a vulnerable recovery. . .
. . .The unemployment rate fell as 652,000 people out of work gave up on their job searches and left the labor force. People who are no longer looking for work aren't counted as unemployed.
"The unemployment rate fell to 9.5 percent from 9.7 percent as the 301,000 decline in household employment was more than offset by a drop of 652,000 in the labor force, thus the rate fell not because of a pick up in job gains,' Miller Tabak analyst Peter Boockvar told Fox Business Network.
two thirds of a million people quit looking for work, just gave up. and the jughead and his crones have the balls to say we're in a recovery. that we're headed in the right direction.
sure looking depressing to me
1 comment:
The number of people who have GIVEN UP looking (officially - thru a pointless system which does not pay them and thus they won't come in and be 'monitored') is ASTRONOMICAL compared to the number of unemployed reported. The number of people who fall of the edge back edge of this reporting system SHOULD NEVER BE DROPPED, and the people who work the offices should reach out once per quarter (via auto send mail, email or robofone calls) to find out if these people have returned to work. BUt the number would look as scary as it really is
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