The unemployment rate, which hit 10% in October 2009, has dropped below 8%. Yet it is still historically high, at 7.9% as of last month -- a tick above the 7.8% unemployment when Obama took office in 2009
Employment vs. population
The percentage of Americans with jobs is near a 30-year low.
Discouraged workers have left the job market, although some have returned recently as the employment picture has shown signs of improvement.
Even as the jobs market has gotten modestly stronger, real income has been stagnant.
Wages, as a percentage of the overall economy, have fallen to historic lows.
With demographic shifts and high unemployment, the government has been spending more and more on entitlement programs such as Social Security and Medicare.
And though Obama and leaders in Congress will need to come up with a long-term plan to address those big budgetary issues, they also have a more immediate problem to solve: the fiscal cliff.
More from The Fiscal Times:
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# 1 = HIMSELF
# 2 = THE DEMOCRATIC PARTY
# 3 = VALERIE JARRETT
# 4 = PROGRESSIVE'S IN THE ELECTORATE
This business owner is giving it until December 1st.
Already came up with a list of 15 employees who will be cut if the fit hits the shan.
Corporate profits (after tax) are at an all time high. Wages are the lowest percentage of the GDP on record. This aint government people. This is the private sector. Thank heaven we didn't elect a private sector guru in this economy.
We as the American people have so long let a small amount of politicians (lawyers), say and do what they have studied, and determined will, be tolerated by "We the people" (Us), and have been manipulated by seed thought, of master control. WE believe it is (us) that is in control, I say we are being herded. To what end is yet to be determined, by our ignorance of the diabolical and unscrupulous greed of those we have in trusted to do the RIGHT thing with Integrity. How naive it is to think they vote themselves increased salary and we don't need any more we need to sacrifice as a whole to maintain the two party system Republican and Democrat. for the benefit of two party at the expense of all others. We need to come together and oust all the career controllers and get some farmers and ditch diggers in to help the country. It is so much easier to get less than 600 players to play the rules out to benefit oneself and keep it secret. and I will say no more until I check to see if there is a targeting drone over head.
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[BRIEFING.COM] The S&P 500 settled lower by 0.8% after early strength turned into afternoon weakness.
Today's headline event came in the form of Ben Bernanke's testimony before the Joint Economic Committee. During his remarks, Chairman Bernanke said premature tightening of monetary policy could stall the pace of recovery. This followed weeks of conflicting remarks from FOMC members, which sparked speculation regarding possible changes to the Fed's policy course.
However, ... More
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