U.S. employment growth accelerated last month and the jobless rate dropped to a near three-year low of 8.5 percent, the strongest evidence yet the economic recovery is gaining steam.
Nonfarm payrolls increased 200,000 in December, the Labor Department said on Friday. It was the biggest rise in three months and beat economists' expectations for a 150,000 gain. Read more.....
It is even worse then the numers tell us it is. The unemployment rate is well above the fiction put out by the government. The economy is being propped up by borrowing money which makes things look better but those chickens will eventually come home to roost. The worst part is none of the borrowed money was spent on anything that would be likely to help the economy in the long run, it was all spent to keep the bad news from becomeing obvious to everyone.
ReplyDeleteI think the increment of labor department is a Good source to provide the Jobs to the people. I am really impressed!
ReplyDeleteDragon Sourcing
unemployment rate dropped due to 2-3 million dropping off extended benefits. labor participation rate is low of historic norms which is a good indication of unemployment also. They report based on their aims. wish to show improvement? report this and bury that, low inflation? add declining house values to the numbers which weigh against rising prices, then exclude food and fuel..lol. national debt? report part, bury unfunded liabilities and whoola..it's only 56 trillion...not the 117 trillion it would be with all liabilities added in.
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