Everyone appears to relish the drop in Unemployment from 9.8 to 9.4%. At frist glance it appears things are really improving quickly. A further look at the figures is necessary.
The figures released today by the Federal Government indicate approximately 105,000 new jobs were created last month. It further indicated the .4% drop represented an approximate drop of 556,000 people. If we only created 105,000 new jobs where did the approximate 450,000 people go?
Some replaced people who retired or are on medical leave. If we assume 50%, then that still leaves approximately 225,000 who left unemployment but did not go to a job. Where did they go?
The Federal Government stops counting you as unemployed if you stop looking for a job. So the discouraged who could not find a job stopped looking and lost their benefits and stopped being counted as unemployed.
When you add the people who are no longer looking for work because they cannot find work, to the unemployment rate, experts say the unemployment rate is between 17-20%
It’s time to create jobs by having the Government stop trying to over regulate business and create an atmosphere where business will begin to hire again. let us hope we do not have to wait until 2012 for the help to arrive.
2012 is coming!!!!!
A Patriot From Chowan 