Washington, DC, Dec. 2, 2011 The economy created 120,000 jobs during the month of November and the unemployment rate has fallen to 8.6%, its lowest level in more than two and a half years, the Labor Department said today.
Am I missing something here? There have been between 320,000 and 400,000 new applicants for unemployment compensation every week. There are 45,000,000 on food stamps and no published total of how many are really unemployed.
Many of the "unemployed" people are working on a "cash" basis which means they don't pay taxes. Meanwhile our state unemployment insurance taxes in Indiana went up 150% last year. But wait! The inflation rate is just a little over 2%.
Most of the 120,000 new jobs for November were probably for the holiday season and were part time. I'd bet the real unemployment figure is north of 25%. They're either using some kind of "new" math or they don't know the difference between statistics and lies.
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