Friday, February 4, 2011
36,000 jobs created yikes!
Robert Reich said,
“The U.S. economy added just 36,000 jobs in January, according to today’s report from the Bureau of Labor Statistics. Remember, 125,000 are needed just to keep up with the increase in population of Americans wanting and needing work. And 300,000 a month are needed continuously for five years if we’re to get back to anything like the employment we had before the Great Recession.”
Blog Jesse's Café Américain said
"Now it is fairly well known that the unemployment rate is a less important metric, since people stop being counted as unemployed when no longer receiving unemployment benefits, or when they take a menial low paying job. And in a prolonged downturn you can therefore have improvements in the unemployment rate without any real improvement in overall unemployment like the labor participation rate and the median wage, which are the key indicators of a sustainable recovery.