Fashion Week Flash: Tracy Reese Fall 2012 (PHOTOS)
54 Ways to Say "I Love You" In Africa
At first glance, it sounds like good news: The unemployment rate tumbled in 39 states last month.
But don't look for the Champagne just yet. In fact, get ready for the bad economic times buffeting this country to get a little worse.
The unemployment rate has fallen because lots of Americans have simply given up looking for work. One study from NBC News said that five people are in competition for every available job.
Those odds have simply worn down some job seekers, who now have thrown in the towel on looking for work. About 650,000 people stopped looking for altogether, according to the Labor Department.
Another shock in the national unemployment picture is that Nevada replaced Michigan as the state with the highest unemployment rate.
Would anyone have guessed that the home of sunny Las Vegas, America's adult playground, would have a higher unemployment rate than the home of Detroit, the epicenter of the nation's Rust Belt?
I'm a little confused by the roller-coaster ride economy we are suffering through.
Should the stimulus funds President Barack Obama successfully pushed for at the start of his administration have already created new jobs? Or is it still a little early to look for the fruits of the massive aid package to have made a difference on the streets?
For the sake of this country and President Obama's legacy, I hope the answer is the latter. The passage of the $700-billion stimulus package was promoted as the best tool to create jobs and pull this economy from its slumber.
If we don't start to feel its positive effects soon, President Obama and Democrats in Congress are going to answer for it.
Comments: (2)
Add a comment
By: 1pbm on 7/21/2010 3:47PM
???
Now how is it that it's an employment boom in California as far as electronics, telecommunications and Computer repair?
yet the labor department folk "stopped" looking for work?
Sorry this reads as "folk joined the unemployment rolls,..." which if it is the case it's fear mongering since MORE went back to work from unemployment for the same period of time.
Meh.
Reply to this Comment | Report This
By: ewttety on 8/01/2010 8:12PM
http://www.stefsclothes.net
boot.ugg.jacket.jeans.sweart. (UGG)
jordan air max oakland dunks $39;
Christan Audigier BIKINI JACKET $30;
gstar coogi evisu true jeans $35-39;
coach chanel gucci LV handbags $36;
..._|\______________ _,,_
../ `-----. [ ( Salut =) ) ] . -----_|∷≮∩_∩
./_==o ______________|
...),---.(_(__) /
..// (\) ),----".'
.//___// http://www.stefsclothes.net Welcome you to visit thanks
`-------`
trjdfhhjdr
Reply to this Comment | Report This