Long term problems created by this lengthy weak recovery, plus the expanding waste of government bloat, will inflict long term damage to our nation's growth prospects.
A new layer of fossilized dependents, the 'discouraged' workers who possess few skills of value needed in the work force, will continue to justify government efforts to inflate the Dependency Service Sub-Industries.
These Dependency Service Sub-Industries are contrived, mediocre agencies both in and out of the government who push, by their sheer bloat and redundancy, the cause for ever greater social funding. PB
----
From The Numbers Blog at the Wall Street Journal online:
Some 2.15 million people moved from unemployment to employment last month, but an even larger number of unemployed — 2.35 million — dropped out of the labor force.
In all but two months since December 2008, more unemployed have dropped out than found jobs.
That has brought the share of people working or looking for work — known as the labor force participation rate — to 62.8%, matching a 30-year low.
And that’s at the heart of why economists have been wrong about the unemployment rate lately.
They keep expecting people who have become discouraged during the recession and slow recovery to start looking for work again.
When someone starts looking for work after having given up, they are counted as unemployed, and that can lead the unemployment rate to increase.
But that hasn’t happened. In fact, the number of unemployed who were re-entering the labor market actually fell in June.
----
Link: http://blogs.wsj.com/numbers/why-have-economists-been-wrong-about-falling-unemployment-rates-1513/
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.