Friday, March 04, 2011

EconomicsUSA: Unemployment UPDATE: From 10+% down at last to 8.9% Unemploy drops

Update:  please also read the new update from NYT, posted Mar5,2k11.
New York Times presents a more roseate report than I trust -- EconoMix

WaPo (March 4, 2011; please read the entire article!)

The free-enterprise system in America has recovered sufficiently from the Meltdown 2k08 and the Democratic government for two years under Prez Obama, Senate majority leader Reid, and House majority leader Pelosi, until now with debt-decreasing Republicans with Freshnen Tea Partiers in the House of Representatives, to reduce unemployment by a small, bnut hopefully, sufficient margin to take note.  The story is not at core about politicians.  The story is about businesses large and small (with their owners, managers and investors) in America's free-enterprise system.

Relatively free enterprise has recovered sufficiently to produce statistical indicators of a marginal rise in employment.  For those still unemployed, this is for many a sign of hope -- but not all.  Among discouraged workers who fell into system-induced unemployment, many have become permanently discouraged.  These two categories of The Discouraged no longer appear in unemployment statistics becaws they are no longer looking for jobs.  So, the statistical base of the new figures, along with the old figures, are flawed to begin with.

The Democrats' chief strategy has been to pay out stimulus money to expand the Federal bureaucracy, the state bureaucracies of education, and similar taxpayer-financed jobs outside the free-enterprise system.  That means burdening taxpayers further, diminishing the ability of many to either buy (among other things, health insurance, but also food in a sector where prices to the consumer are rising) or invest (since there are fewer funds available to individuals to undergird small businesses and large with capital).

Obviously, Americans and our economy are not out of the woods yet.  

- comment and Washington Post materials posted by EconoMix

U.S. adds 192K new jobs --

unemployment rate dips to 8.9%

Job growth soared ahead and the unemployment rate fell in February, as the economy gained momentum and people who had been stuck at home because of January snow returned to work.

Employers added 192,000 jobs in February, the Labor Department said Friday. The number closely matched analysts' expectations, accelerating from a revised 63,000 jobs added in January. The unemployment rate edged down to 8.9 percent, from 9 percent.

No comments: