........... Not Much To Celebrate ......... US jobs report indicated that 175,000 persons gained employment in February yet the employment rate increased from 6.6% to 6.7%. Not much to celebrate considering that as of December 2013 the US population is increasing by an average of 185,000 per month. The US has averaged just 129,000 new jobs per month during the last 3 months. 2 million job seekers and their families are no longer receiving any type of unemployment benefits, therefore are not counted as being unemployed. 92 million of the 314 million people living in the US are not in the labor force. The general population, including most of the uniformed investors, listen to the news anchors celebrating the 175,000 new jobs and the related rise of the stock markets. The saying goes ignorance is bliss. From Thomas Grays poem, Ode on a Distant Prospect of Eton College (1742): Where ignorance is bliss, tis folly to be wise. Loosely translated this means, it is crazy to be informed (and otherwise concerned) if not being informed makes you happy. This is what I think of when I listen to these reporters spread the misguided bliss.
Posted on: Sun, 09 Mar 2014 11:54:05 +0000
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