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America's Weak Jobs Report - by Stephen Lendman
America's economy is deteriorating, not healing.
ABC News quoted an unnamed White House spokesperson, saying the November jobs report provides "further evidence that the economy is continuing to heal."
Obama's Chairman of the Council of Economic Advisers Alan Krueger hyped the 0.4% unemployment rate drop to 8.6%, "the lowest (figure) since March 2009." He didn't explain why. More on that below, including the real unreported employment rate.
The New York Times tried having it both ways. On December 2, Catherine Rampell's article headlined, "Jobless Rate Dips to Lowest Level in More Than 2 Years," saying:
"Somehow the American economy appears to be getting better, even as the rest of the world is looking worse."She called it "good news for President Obama as he heads into the 2012 presidential election - especially since just a few months ago the picture looked bleak."
For America's 26 million unemployed, it never looked bleaker. It's reflected in what Bureau of Labor Statistics (BLS) figures and major media scoundrels don't report - the nation's near-23% unemployment rate (including millions wanting work but dropped out for lack of jobs), its highest since the Great Depression.
A same day Times editorial more accurately explained conditions headlined, "Been Down So Long...," saying:
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