Friday, December 2, 2011

Is the jobs picture really improving?

CNSNews' Bill Hobbs warms people not to get too excited over today's (made-to-order-for-the-legacy-media) Labor Department jobs report:

Imagine, if you will, that the entire population of the city of St. Louis decided to stop looking for a job and just gave up because the economy was so bad - and the government called it good news.

That's what happened today.

The Obama administration announced that the unemployment rate dropped from 9 percent to 8.6 percent, and called it "improvement." But the reality is, the economy is still not creating jobs anywhere near fast enough. So, in the month of November, 315,000 people gave up and stopped looking for a job. The population of St. Louis is 319,000.

All it will take to get the unemployment rate under 8 percent by Election Day is for a few million more Americans to get discouraged and give up on the economy - but that would not be an "improvement" no matter how hard the Obama administration tried to spin it.

More here.

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