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Re: Unemployment Rate Set To Plunge As Bill To Restore Jobless Benefits Fails To Pass
You're welcome. It's also worth pointing out that the majority of the jobs "recovery" over the last 5 years has been early retirees and people who dropped out. We are at record low labor participation rate right while those exiting the workforce are being removed from the denominator in the U3 unemployment calculation.
Part of this is the beginning of the big baby boom retirement, but some of it is simply people giving up and moving from productive members of society to simple consumers.
I've always contended that these unemployment numbers are meaningless and this just supports my theory.
OTOH, I was listening to the radio on my way around today and they were discussing how millions of people are pressuring the states to legalize online gaming wit only one major player fighting it - Sheldon Adelson, who can't abide the thought of anyone making money except his own selfish-prick billionaire self. And it made me think that if millions are worried about this form of wasting money - how bad can things be really?
I don't think the employment picture is all that pretty but apparently plenty of people have good enough jobs to even care about online gaming. I suppose only a Nevadan would fully grok this, but you should see what I'm referring to.
Thanks for the intelligent and logical response to my original question.
You're welcome. It's also worth pointing out that the majority of the jobs "recovery" over the last 5 years has been early retirees and people who dropped out. We are at record low labor participation rate right while those exiting the workforce are being removed from the denominator in the U3 unemployment calculation.
Part of this is the beginning of the big baby boom retirement, but some of it is simply people giving up and moving from productive members of society to simple consumers.