News, Comments, Etc.

The unemployment rate is nothing to brag about, and I don't believe a word what the feds say about it declining.

After all, they base the figures on a telephone survey, so undoubtedly the true rate is masked.

More:

Most of the new jobs that are being created are in low-wage service industry sectors. The share of the work force earning poverty level or near-poverty wages is increasing. A study published Friday by Wider Opportunities for Women reported: "Fewer than 13 percent of jobs... to be created by 2018 are likely to provide economic security to a single parent raising two or more children. A small majority of new jobs are expected to pay economic security wages for single workers without children, and approximately 43 percent of the new jobs will pay economic security wages for two workers raising two young children."

One of the most telling indicators of the real state of the economy is the ongoing decline in house sales and prices, which is closely linked to mass unemployment. Following disastrous reports last week showing record falls in the sale of existing and new homes, the S&P/Case Shiller home price index for January was released earlier this week. It showed that home prices fell a further 3.1 percent from January of 2010.

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Teachers in NY protest severe cuts, all to no avail.
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