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Originally posted by 123dsa
Number of jobless steadily growing? Maybe you missed the new report from the Fed. Unemployment is down
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Incorrect. The only reason those numbers dropped was that half a million Americans officially gave up looking for jobs. The number that dropped was the number of new jobless claims. Did you know that more than two and a half million jobs have been lost since Bush took office?
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and the economy grew at more than 2% over the last quarter.(3% is the rate of growth at the natural rate of unemployment)
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Actually, the number given was 2.4 percent. That's a misleading statistic. It's the percentage of economic growth over the quarter from the year before, extrapolated out over four quarters. The actual, real growth is something like 0.67 percent. Not to mention with the continuing increase in jobless claims (see above), this is what's called a "jobless recovery". If people aren't making money to put back into the economy, any supposed recovery will certainly be short-lived.