The drop in the unemployment rate is better that ‘a sharp stick in the eye’, but really isn’t anything to be thrilled with, as Robert Reich explains in The Jobs Report: Don’t Break Out the Champagne.
Over 300,000 have giving up actively looking for a job as of this report, but the drop will probably cause some of them to return to the hunt, causing the rate to jump back up in the new year. There is no reason to be optimistic and many reasons to be worried.
On-line Opinion Magazine featuring annoyed rumblings from the leading edge of the Baby Boom firmly tied to a reality-based world.
Established: 21 November 2004
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