The BLS actually reported that the number of unemployed long term unemployed went up in January. Their report states that, "In January, the number of persons unemployed due to job loss decreased by 378,000 to 9.3 million."
That doesn't sound so bad. But a couple of lines later the BLS report drops this bombshell, "The number of long-term unemployed (those jobless for 27 weeks and over) continued to trend up in January, reaching 6.3 million."
The bottom line is that there are fewer jobs and more actual unemployed, despite the bogus U3 unemployment figures.
The BLS actually reported that the number of unemployed long term unemployed went up in January. Their report states that, "In January, the number of persons unemployed due to job loss decreased by 378,000 to 9.3 million."
ReplyDeleteThat doesn't sound so bad. But a couple of lines later the BLS report drops this bombshell, "The number of long-term unemployed (those jobless for 27 weeks and over) continued to trend up in January, reaching 6.3 million."
The bottom line is that there are fewer jobs and more actual unemployed, despite the bogus U3 unemployment figures.