(emphasis mine):
“Nonfarm payroll employment increased by 151,000 in October,Click the image & read the rest:
and the unemployment rate was unchanged at 9.6 percent”
The only good news is that the report wasn’t as bad as expected.
The Lame Stream Media were excited to see 151,000 jobs created (ADP reported only 43,000 nonfarm jobs created in the private sector). What was downplayed is the fact that the total number of unemployed rose from 14,767,000 to 14,843,000 (an increase of 76,000). So, owing to the growth of the labor pool, more than 50% MORE jobs would have to have been created just to keep the total number of unemployed from RISING!
The truth is that this report represents -- at BEST -- a pathetic stagnation of the economy induced by arrogant, ignorant, utterly counter-productive Dims in Washington D.C. (and elsewhere).
Click here to understand why this failure was entirely predictable.
2 comments:
This is exactly the way I see it, SBVOR. Between the socialist liars, the lamestream media and the eternal optimists, we are getting the false impression that things are getting better.
In fact, we are now Europe. We will have high unemployment and slow growth until we chop government way down from its current 44% of GDP in spending and 20% of GDP in regulation. If we cut government in half, it would almost double the income available to the rest of us.
Tom,
Thanks for commenting. I agree with you completely. I would like to see government spending, regulation and bureaucracy at every level cut by at least 50%.
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