Posted on 03/16/2004 3:48:16 AM PST by Beck_isright
Given my contention over the last year that our economic "recovery" would not be self-sustaining -- because it would be incapable of generating jobs -- I'd like to spend a minute on the February employment report.
This report, released March 5, is the third consecutive employment report that has disappointed nearly everyone. And it puts an exclamation point behind the idea that we are not creating jobs in this country.
A look under the hood is not pretty In fact, if you take a peek beneath the surface of the employment report, it's far worse than the headline number. (The supporting data are available here.)
Using the seasonally adjusted total unemployment rate of 5.6% and adding to it "discouraged" workers, the rate grows to 5.9%. Factor in other groups of people who are underutilized in the work force, you can ratchet the number all the way up to 9.6%. And, for the sake of comprehensiveness, if you use the non-seasonally adjusted numbers, that rate would swell to 10.9%. So, those are the numbers, and I'll leave readers to draw their own conclusions.
(Excerpt) Read more at moneycentral.msn.com ...
You need not worry! I am also pleased to report that the chocolate ration has been increased from 30 to 20 grams!
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