The private sector continues to suffer while the ruling class thrives
Posted by Dr. Roy Cordato at 2:24 PM
The Washington Examiner has an excellent editorial dissecting the latest unemployment numbers. As we all know, January's unemployment rate fell to 9.7%. Of course these are preliminary numbers and it is clear from past experience that the truth is not likely to be so rosy. But assuming that this latest report is accurate, facts behind the overall number are not encouraging. According to the Examiner:
"The number of new jobs is actually declining. Total nonfarm payroll
employment, for example, dipped by an additional 20,000 positions after
a December decline of 150,000 positions."
"The percent of the unemployed who are out of work for 27 weeks or more exceeded 41%, an all-time high."
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