Randy Shannon: Friday's Terrible Jobs Report?
Submitted by Illinoisnoki1 on Mon, 02/06/2012 - 17:07
Randolph Shannon, a PDA leader from Western Pennsylvania, reports that the improving job numbers reported last Friday (2/2) might be nothing more than lipstick on a pig.
Big Brother is celebrating the drop in unemployment to 8.3% and 243,000 new jobs. But here is the reality. An unprecedented 1.2 million Americans were counted out of the labor force in January alone. They entered the class known as "not looking for work any longer."
Were these "not looking for work any longer" retiring baby boomers? If only it were so. Actually baby boomers are increasing participation in the work force. Those giving up on finding a job are ages 18-55 years old.
Of the 243,000 new jobs, part-time low wage jobs are estimated at 113,000. Almost half the new jobs are part-time low wage.
Randy Shannon, yours for the People's Budget












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