Many experts have noted that the "good news" regarding the unemployment rate reported on Monday has to be tempered with the realization that the number was artificially low. So many people have grown discouraged regarding job prospects that they are no longer looking for jobs.They have dropped out of the "workforce" and are therefore no longer considered as "unemployed" for purposes of the unemployment rate.
This is bad news - and the longer they are unemployed, the poorer are their prospects of getting rehired. Their personal finances suffer, as does their ability to pay off debts, including mortgages. Leave it for the spin artists at the White House to have the temerity to consider people leaving the work force to be an "economic positive".
John Hayward at Human Events deservedly ridicules the White House spin and also asks a good question: why doesn't the mainstream media bother to report such an absurd statement? First he excepts a report from the Washington Examiner:
White House Press Secretary Jay Carney explained that the number of people dropping out of the work force, which artificially depresses the unemployment rate, can be regarded as an "economic positive."
Someone in the WH "ain't wrapped none too tight".
ReplyDeleteThey have the "gift of gab" as my friend Bobby used to say. Which reminds me, I need to post a piece on NamSouth about our prior, nefarious ways. Too much to say here, but thanks for jogging my memory!:)
ReplyDeleteAll involved are looking at this THE WRONG WAY!
ReplyDeleteIf I were to say "You've got to go EAST to get to St Louis!" would that statement be true or false?
That depends on where you're coming FROM - right?
Likewise with everything that runs out of the pie-holes of this bunch of miscreants!
"This is an economic positive!" -- if your goal is to WRECK the economy, that would be an absolutely TRUE STATEMENT!
You've just got to remember where THEY ARE COMING FROM!
"This is an economic positive!" -- if your goal is to WRECK the economy, that would be an absolutely TRUE STATEMENT!
ReplyDelete:)