Friday, November 7, 2014

Unemployment nudges down to 5.8%

++Curiously, white unemployment is at 4.8%. 

++The jobs report disappointed Wall Street which expected more than the 214,000 jobs created. But jobs were created across all sectors, which is a positive sign of a more durable recovery.

++The long-term unemployed who benefits were not extended by Congress consist of 32% of all unemployed. 2.9 million are long-term unemployed. But that number went down by 1.1 million in the past year.

++But a Huffington Post poll found that 2/3rds of the mid-term voters were dissatisfied with the economy system itself. Wide majorities believed the economy did not help the average worker. So I guess you vote for people who will give corporations bigger tax breaks.

++If anyone acts on infrastructure, the unemployment rate will drop further.

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