CNBC- Why The Job Numbers Are So Bad (April) Weakest recovery since Great Depression

Discussion in 'Politics' started by Neotrotsky, May 4, 2012.

  1. Neotrotsky

    Neotrotsky Council to Supreme Soviet

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    CNBC- Why The Job Numbers Are So Bad or Weakest recovery since the Great Depression

    when the MSM is discussing, it tends to mean it is even worse

    Job creation in the private sector was slightly better at 130,000, but overall the report painted a picture of a jobs market that had gotten a boost from unseasonably warm winter weather but now has cooled.

    The amount of discouraged workers swelled from 865,000 to 968,000, an increase of 12 percent. Those working part-time for economic reasons surged 181,000 to more than 7.8 million.

    "In the weakest recovery since the Great Depression, more than four-fifths of the reduction in unemployment has been accomplished by a dropping adult labor force participation rate — essentially persuading adults they don't need a job, or the job they could find is not worth having," said University of Maryland economist Peter Morici.​

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