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Keyword: umeployment

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  • Phony cheer in unemployment numbers

    12/07/2012 8:10:03 AM PST · by SeekAndFind · 3 replies
    American Thinker ^ | 12/07/2012 | Thomas Lifson
    Obama partisans are hailing the "surprising" fall in unemployment as a sign that a recovery is showing strength. But the official metric for unemployment, U-3, counts only people actively looking for jobs, and that is the figure which has declined to 7.7%. Neil Irwin in the Washington Post explains: The jobless rate dropped in large part because the labor force fell by 350,000, suggesting that people gave up looking for work. The number of people saying they had a job actually fell by 122,000. And the Labor Department revised downward its estimates of job creation in September and October by...