Over the weekend, MSNBC’s Andrea Mitchell – wife of the former longtime Chairman of the Federal Reserve Alan Greenspan – pointed out the glaring weakness in this week’s job numbers. She said this: If you look at the Wall Street Journal, the Washington Post, the New York Times, the Financial Times, all the reporting on the job data from Friday, reported that participation rate is at historic lows, decades lows, 59% are involved in the labor force. That’s just not a sustainable recovery. We have two Americas, we really do. Contrast this with President Obama’s weekly address, where he was careful to emphasize the 5.9% unemployment rate and the jobs added. He did not mention that more people stopping looking for work than those that found it, and that the number of working-aged people with jobs is the lowest in almost 40 years. https://youtube/watch?v=VtFC7HJmxrE
Posted on: Mon, 06 Oct 2014 13:05:14 +0000
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