February 8, 2012
WH spokesman: People dropping out of workforce is an 'economic positive'
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 ...(Read Full Post)