Despite hype, unemployment news is grim

The Obama administration and their sycophants in the (once)-mainstream media trumpeted the increase of 162,000 jobs in March claiming that the recovery in underway and becoming entrenched.  This included 48,000 part-time workers for the Census and another 40,000 new part-time jobs in the rest of the economy.Nevertheless, behind these headlines the data from the Bureau of Labor Statistics also reveal a grimmer side of the picture.The number of long-term unemployed (more than 27 weeks) in March rose to more than 6.5 million.  The percentage of people unemployed for 27 weeks or more also rose to a record 44.1% of all jobless.The figures also showed the average earnings per hour dropped and the number of people working part-time increased.The underemployment rate -- which includes part-time and those who have given up looking increased to 16.9% from 16.8%.  At some point soon many of those who have given up looking will re-enter the workforce in search of employment and...(Read Full Post)

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