Sorry to be such a Debbie Downer here, but not everything’s coming up roses (no matter how much BS they sling at it):
The number of unemployed persons declined by 490,000 to 10.4 million in December, and the unemployment rate declined by 0.3 percentage point to 6.7 percent. Over the year, the number of unemployed persons and the unemployment rate were down by 1.9 million and 1.2 percentage points, respectively.
Woo-hoo! High five! I’m buying!
Ooooh, sorry black people for being so insensitive (but what else is new, right?):
The rates for adult women (6.0 percent), teenagers (20.2 percent), blacks (11.9 percent), and Hispanics (8.3 percent) showed little change.
The number of long-term unemployed (those jobless for 27 weeks or more), at 3.9 million, showed little change; these individuals accounted for 37.7 percent of the unemployed.
The civilian labor force participation rate declined by 0.2 percentage point to 62.8 percent in December, offsetting a change of the same magnitude in November. In December, the employment-population ratio was unchanged at 58.6 percent.
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged at 7.8 million in December. These individuals were working part time because their hours had been cut back or because they were unable to find full-time work.
In December, 2.4 million persons were marginally attached to the labor force little changed from a year earlier.
Admittedly, I cherry-picked the unimpressive news—but you have to admit that’s a pie’s worth of cherries, Billy Boy. And where else are you going to read it?
Actual workers aren’t increasing (74,000 new jobs is about half of population growth); they’re just disappearing from the work force. Whether you measure by labor force participation rate (it fell to another historic low) or employment-population ratio (flat), the news is tepid at best.
Watch the Democrats claim victory on unemployment, while demanding a year’s worth unemployment benefits be added on. You know I’m not kidding.
PS: “Unchanged”, “showed little change”, etc.—like the Eskimos with “snow”, have you ever seen so many synonyms for “sucked”?