Posted by
The New THOMA$ REPORT on Sunday, January 31, 2010 4:33:52 PM
Economists say we’re no longer in a recession, but the national jobless rate is still 10% or more. Some professions have a much higher rate; such as construction, which is at 17%. Economists call it “a jobless recovery.” What’s that? It’s NOT a “recovery” if we still have a high jobless rate, but they won’t admit it. The jobless numbers ARE getting a LITTLE better, mostly because many people have reached the end of their jobless money and have just stopped looking. When the money stops they don’t come in any more, and when that happens, they are no longer counted in the jobless figures, thus giving a false lower reading. (
Investor’s Business Daily)