Thursday, July 18, 2013

Initial unemployment compensation claims return to lower level

It is hardly a sign of economic recovery, or improved employment rates, when we see charts that appear to show a decline in the unemployment rate. The numbers don't tell the full story. 

First, we know that more part-time jobs have replaced full-time jobs, a way for employers to cut costs as government regulations put pressure on firms. The Obama administration take credit for this creation of jobs, but burdensome regulations have created lower-paying jobs and underemployment, definitely not a net gain. 

Next, we consider that unemployment regulations make it more difficult to qualify for benefits, also not a positive shift. It also excludes the growing number of workers who's benefits have expired. These realities are definitely not positive gains in employment, but show the continue decline of the overall economy.

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