Subject: Government Math: Don't you just love government math. There were 175,000 layoffs in October and 125,000 jobs created. It is reported that we suddenly have an economic recovery, with jobs creation, underway. I was taught that 175,000 minus 125,000 is a loss of 50,000 jobs, not a robust recovery. Oh, by the way, every week there are people falling off the unemployment insurance system. They are no longer counted as unemployed and no longer receive unemployment assistance. They cease to exist. That does not mean there are fewer unemployed. It means we play games with numbers to make things look better than they really are. There a several million people, the number varies from 2 to 5 million, that fall within this category. The highest number ever. All jobs are not equal. A programming job lost to India, the Phillipines, etc., that paid $60-75,000, is not replaced by a new minimum wage paying job. Absolute numbers do not show that the middle class is being eliminated by corporate America. Mike
No comments:
Post a Comment