Tuesday, April 24, 2018

Remember, they never report the real unemployment rate

But when Idaho has a 2.9% recorded unemployment rate, that means the real unemployment rate has got to be under 10%, for the first time in a long time.

Fourteen states have set new records for low unemployment rates in the last year, nearly a decade after the recession put millions of Americans out of work.

The states hitting new unemployment lows run the ideological gamut, from conservative Texas to liberal California, suggesting a recovery stronger than any particular political persuasion.

In March, eight states saw new record lows, including Hawaii (2.1 percent), Idaho (2.9 percent), Kentucky (4 percent ), Maine (2.7 percent), Mississippi (4.5 percent), Oregon (4.1 percent) and Wisconsin (2.9 percent).

It's amazing what the economy can do if you get the government out of the way.  Even Fruitcake Kalifornia is getting in on the action, although that state's economy is so convoluted that I don't really trust the numbers coming out.  Oh, I have no doubt their unemployment is low, but Kalifornia is essentially a feudal state where millions of peasants service their lords and ladies in the gated coastal enclaves.

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