WSJ SAYS EMPLOYMENT IS ROSY. FACTS SAY IT’S IN THE TOILET.
Posted in Uncategorized by Baba - Jun 25, 2015
Here is the Wall Street Journal’s version of the state of US employment:
“U.S. Jobless Claims Tick Up, but Still Reflect Robust Labor Market.
The measure of U.S. layoffs increased by 3,000 to 271,000. The number of Americans filing new applications for unemployment benefits ticked upward last week, but remained at a historically low level.”
Got that? “Robust labor market”, “historically low level of unemployment.”
Now, here are some actual numbers (compiled by the Associated Press):
“More Americans than ever before are not working with 92 MILLION people out of the workforce.
The share of Americans in the workforce has sunk to its lowest point in 35 years
Experts say it’s a sign of both an aging population and of unemployed people who have given up on their dispiriting job hunts.(If you are not looking for a job then you are not recognized as being Unemployed).
Congress is debating whether to renew for a sixth year an emergency program that paid benefits averaging $256 a week.