Not a Number to Celebrate

Every first Friday of the month, job numbers are released and today's figure came out at 9.4%, slightly lower than the 9.8% figure released in December.

I couldn't help but notice what seemed like breathless excitement of those in the news reporting these numbers, but let's face it, there is nothing to be excited about! These numbers are horrible and don't tell the whole story. The jobs created that the media cites are rather low in number to constitute a recovery and what I want to know are if these jobs created are full-time positions. Working in retail in college, I remember the company for which I worked, as well as others, hire temporary workers during the Christmas shopping season, and those positions usually end after New Years Day. If that is the case, U3 will go up again in February as those workers who have left the active working market will apply for unemployment. An additional thought to figure in as to the U3 drop are those who are "giving up" and bowing out of the job market, including unemployment. That figure, U6, which isn't as readily cited is around 17%; a figure totally unacceptable for the United States. But sadly, with the economic policy our leaders are endorsing and practicing, these numbers are the reality until our leaders change course.

I really hope the Mainstream Media and those in the Federal Government who are celebrating this figure put an end to their party as they are giving Americans looking for a job false hope in a recovery that isn't there. They should actually pursue (in the media's case) the reasons why unemployment has been over 9% for 20 months and (in the case of the Federal Government) propose and institute policies that will give job creators incentive to hire more Americans, returning them to the workforce and once and for all, bringing U3 and U6 down to their levels in 2006!