(Un)Employment

“Job creation broke out in February, with the economy creating a net 236,000 new jobs as the unemployment rate fell to 7.7 percent,” gushes CNBC like a young teen swooning over a celebrity.  I know people working 2 part-time jobs right now.  While that seems like good news CNBC didn’t report this angle:

The number of Americans designated as “not in the labor force” in February was 89,304,000, a record high, up from 89,008,000 in January, according to the Department of Labor.”

So it looks like the US is getting jobs but even more people are dropping out of the labor force.  I would guess that when the history of this is written in a 100 years we will find a lot of fraud in the reported numbers. The history of governments is the history of lies.

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