Free Republic

It's 'Disturbing' How Fast The Unemployment Rate Is Falling Rob WileFeb. 7, 2014, 10:50 AM Yikes. The unemployment rate is falling really fast. This morning, we learned it had declined to 6.6% — the 23rd-straight month without an increase. As Brooking's and UMichigan's Justin Wolfers observes, the rate has dropped 1.3% over the past year — an insane acceleration from 2012's decline of just 0.3%. "Only three other times in the past six decades has the unemployment rate fallen this far this fast: in the early 1950s, when growth averaged 6.7% per annum; in the late 1970s when GDP growth...

Just beneath the surface, the government’s latest employment report [1] shows how much damage the POR (Pelosi-Obama-Reid) economy, now well into its sixth year [2], has done to the country’s economic fabric. The impact of Obamacare, if it isn’t stopped, will only compound it.Even the relatively decent news in Uncle Sam’s October report was suspect.Employers are said to have added 204,000 seasonally adjusted jobs. But as the Associated Press noted [3], the government, thanks to the 17 percent [4] government shutdown, had an extra week to retrieve its surveys from employers, and therefore had a higher than usual response rate....