Saturday, March 9, 2013
What latest data from US labor Dept do not reveal
It's all over headlines across the U-S: Unemployment falls to the lowest rate since 2008-the time right before the bottom fell out from the US economy. According to reports, the economy added more than 200-thousand jobs and the nation's official unemployment rate dipped to 7.7%--leading to optimism for White House number crunchers.
But, those numbers are not telling the whole story. The figures behind the headlines paint a grim picture for those who face the toughest prospects of finding a job: The nation's long-term unemployed and minorities.
Jobs Market Is Improving, But the Long-Term Unemployed Still Can't Find a job and those who have been out of work the longest are still struggling. The problems of the long-term employed have been one of the most unresolved problems of the economic recovery.
The data may show an economy experiencing a recovery but not everyone is included in the economic revival. For the millions who are still unemployed it indicates that the US recovery is anemic at best.
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