Reply to A three letter word J-O-B-S - What happened in July 2012? Where are the Jobs?

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[quote=Anonymous][youtube]http://www.youtube.com/watch?v=BBHPvfAt5ow[/youtube]

Where are they? Many of you may be confused by the unemployment numbers, only 96,000 jobs and the unemployment rate dropped from 8.3% to 8.1%, that's good right?

Well not really. The unemployment rate fell to 8.1 percent from 8.3 percent in July, but only because more people gave up looking for work.

The report was discouraging throughout. Hourly pay fell, manufacturers cut the most jobs in two years and the number of people in the work force dropped to its lowest level in 31 years.

All told, the proportion of the population that is either working or looking for work fell to 63.5 percent. That's the lowest level in 31 years for the labor force participation rate.

The overall job market still has a long way to go recover from the financial crisis. Three years after the recession ended, roughly 12.5 million Americans remain unemployed, and 40% of them have been so for six months or more.

http://www.huffingtonpost.com/2012/09/07/august-jobs-report_n_1864001.html[/quote]

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