11 Jan 2014 12:44 pm
.Misty » 11 Jan 2014 12:27 pm » wrote: WHEN AND WHERE DID I SAY THAT?
Let me help you out here. Here's yet another of countless great sources I've cited about the horrific Obama Economy.
Which you always ignore, until the time comes I make a claim based on these sources, without actually citing them.
At which point you lie that I "don't cite sources."
So this time, keep your eyes open!
The Latest Jobs Miss
The fifth year of the Obama recovery brings more dispiriting news.
....The Labor Department says the U.S. produced only 74,000 net new jobs in the month, while the jobless rate fell to 6.7% from 7% mainly because some 347,000 Americans left the labor force....
There isn't much else good to say about the report. Average hourly earnings rose a paltry two cents to $24.17, or a mere 1.8% for the year. Average hours worked in a week fell a tic to 34.4. Even with inflation low, this suggests that real median income may have declined for all of 2013. In the fifth year of an expansion, this is dreadful underperformance.
Another sign of the weak recovery is the failure of the employment-population ratio to rebound. This is a favorite of labor economists because it signals how well the economy is luring Americans into the labor market. The bad news is that the ratio remained at 58.6% in December, barely above its post-recession low of 58.2% in July 2011 and well below the 59.4% in June 2009 when the recession ended.
This is more revealing than any single month's jobless figures because it underscores the danger that the U.S. may be close to having what the Europeans have long called their "structural" unemployment problem. As the nearby chart shows, the employment ratio fell off a cliff in 2008 and hasn't been able to climb more than a little of the way back. This reflects the overall lack of job creation and helps to explain why the larger jobless rate, which includes "discouraged" workers who have left the workforce, remains a dispiriting 13.1%.
http://online.wsj.com/news/articles/SB1 ... oveLEFTTop
