We focus on the targeted cause of the great and continuing recession (the housing bust and financial crisis) but very few take the time to understand the whys of what happened....we don't dig deeper to get to the root of why we had such financial chaos that resulted in such a lengthy lingering effect.
Power seeking, greed, avarice, selfishness, foolishness, shortsightedness, band aide fix mentality, entitlement focus, attempted social engineering based on faulty premises - here are a few of our favorite things that, starting with our elected 'leaders', have wrought our lingering effect that continues even today and based upon who we have become, will be with us tomorrow......
Our elected political 'leadership' will continue to tinker until they totally break it all!
Over two hundred years of foundation based upon freedom and liberty broken into unrecognizable pieces!
"This shows the depth of the recent employment recession — worse than any other post-war recession — and the relatively slow recovery due to the lingering effects of the housing bust and financial crisis."
The U.S. economy added 203,000 jobs in November, which was much stronger than the the 185,000 expected. The October number was revised modestly downward to 200,000 from an earlier estimate of 204,000.
Adding to optimism this morning, the unemployment rate plunged to 7.0% from 7.3% last month. This improvement came as the labor force participation rate rose to 63.0% from 62.8%.
Despite the improvements in the numbers, the U.S. labor market remains anemic.
Calculated Risk runs a chart every month that puts the current jobs recovery into perspective.
"This graph shows the job losses from the start of the employment recession, in percentage terms, compared to previous post WWII recessions," writes Bill McBride of Calculated Risk. "The dotted line is ex-Census hiring. This shows the depth of the recent employment recession — worse than any other post-war recession — and the relatively slow recovery due to the lingering effects of the housing bust and financial crisis."
|
