Punching Stupid and Evil in the Face Since 1986!

"We are on strike, we the men of the mind. We are on strike against self-immolation. We are on strike against the creed of unearned rewards and unrewarded duties."-John Galt

Friday, December 7, 2012

Unemplyment fell because everyone has given up-welcome to the new normal

The unemployment rate fell to 7.7% this month on a higher than expected jobs report. Of course the drop has nothing to do with actual jobs being created as some would like you to believe. The unemployment rate continues to drop the last few months because people are just giving up looking for work; add in a few temporary jobs in the retail sector to help with the Christmas crowd and 'viola! lower unemployment .
The labor participation rate, which represents the proportion of the adult population that is either employed or actively looking for work, remains very low by historical standards.
At 63.6 percent in November, Mr. Gault said, it was just 0.1 percent above the low point for the current economic cycle, which was reached in August 2012.
Regular folks are cutting back on personal spending and tightening their belts just to fall farther and father behind each month-while the federal government can't seem to stop their over-bloated spending. And, just for the record-IT'S THE ENTITLEMENTS STUPID.