“Unemployment steadied at 7.6 percent for the month, as nonfarm payrolls grew by 195,000, according to a closely watched Labor Department report Friday. Economists expected 165,000 more jobs and a decline in the unemployment rate to 7.5 percent.” ~CNBC
First off the unemployment rate IS NOT 7.6% or the adjusted U-6 of 14+%. The true unemployment rate is 23%.
What should concern the hell out of everyone from todays news is the increase in part-time jobs…
Why should people be concerned? Well two reasons:
1) It shows the economy IS NOT recovering as full-time jobs are still unavailable for the 26+ million (on the books) unemployed. Technically by the reported figures, there are 100+million Americans unemployed and out of the work force!!
2) Those with jobs who have seen a drop in their income or have had their hours cut, no thanks to this fake “recovery” and Obamacare, are taking the part-time jobs to make up the difference in lost wages from those unemployed trying to find work! These jobs are also being taken away from the youth who would normally fill part-time jobs! So the unemployment among the youth is not even factored in to the official report!
I don’t know what more to say to get people to understand this country is only in the eye of the storm of a stealth depression! “But the stock market is up!” Yea that’s called the Fed pumping money into the system at an alarming rate and velocity! Don’t take my word for it do the math yourself, there is not enough money in the world to cover the US’s debt!
I cannot wait until all the people who supported and continue to support Obamacare and the emperor have their hours cut or just lose their job! ACTIONS HAVE CONSEQUENCES! It’s about time the left starts feeling the pain many feel (like yours truly!) and learn a hard lesson; what better way than by something they support and praise!