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Chris Wysocki
Caldwell, NJ
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Hey! I've moved to He's Pretty Fly For A Jersey Guy.
Please update your bookmarks. Thanks!
Friday, 05 April 2013
Unemployment "falls" to 7.6%, meanwhile Obamaville now boasts a population of 90 million
Strike up the band Obamabots! The unemployment rate is down to its lowest mark in four years — 7.6% as 88,000 new jobs were created last month. Oh, wait, that's not such good news…
U.S. employers added just 88,000 jobs in March, as hiring slowed and tens of thousands of people stopped looking for work -- in a reminder of the job market's shaky health.
After a burst of strong hiring, the number of positions added in March marks the slowest pace in nine months. The Labor Department said the jobless rate actually dipped last month from 7.7 percent to 7.6 percent. While that is the lowest in four years, the rate fell only because more people stopped looking for work. The government only counts people as unemployed if they are actively looking for a job.
Every silver lining has a cloud, eh? And the cloud is getting pretty damn big.
There are now
90 million people who've given up on ever finding a job. One
quarter of our workforce is no longer actively looking for work.
They're livin' in Obamaville, gettin' by on food stamps and government cheese.
Would you like some really depressing statistics?
The youth unemployment rate for 18 to 29 year olds stands at 11.7%.
The youth unemployment rate for 18 to 29 year old African-Americans is 20.1%.
The youth unemployment rate for 18 to 29 year old Hispanics is 12.6%.
The youth unemployment rate for 18 to 29 year old women is 10%.
Hey, didn't all those groups overwhelmingly vote for Barack Obama's re-election?
Well as the man said, elections have consequences! So I suppose it'll really make those kids feel good about their vote to know that if the labor force participation rate was anything near what it should be, that is if all of the youths who want a job were actually looking for a job, then the youth unemployment rate would be 16.2 percent.
Happy days are here again.
Posted at 14:47 by Chris Wysocki
[/economy]
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