Obama’s plan to reduce the unemployment rate is to discourage you from looking for a job! The latest jobs report said that 1.2 million people left the work force thereby reducing the unemployment rate.
The average time of being unemployed has doubled under Obama and it is only natural to be discouraged along the way. But the metric to determine whether or not you have left the workforce is largely (if not solely) based on whether or not you are collecting unemployment. Expect a lot of people to “leave” the workforce as their 99 weeks of unemployment runs out.
Kodak is filing bankruptcy and may layoff as many as 80 people by the end of the month. There has yet to be official word though.
You want to know what I have a problem with? I can easily find cases where companies are laying people off, downsizing, moving operations overseas, or going bankrupt. But I CANNOT easily find cases where people are finding jobs, companies hiring in force, or in-sourcing. But yet we are told the economy is getting better and that we should be proud to have an unemployment rate of over 8%.