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Unemployment Drops – So Do Benefits For The Unemployed!

Unemployment Drops – So Do Benefits For The Unemployed! – NLO Nelson Law Office  WSJ posted today that unemployment fell but no jobs were created.  This means that people lost their unemployment benefits and did not get rehired.  A bad result and an indication that the economy is staying very cold.  The difference between the unemployment of the great depression and today is simply how they calculate it.  We might be at 25% unemployment and wouldn’t know it because people fall off of the rolls.

The U.S. economy added few jobs in January, even as the unemployment rate fell to its lowest level since April 2009, in a mixed report that points to a gradually improving market for workers. Non-farm payrolls rose by 36,000 last month as private-sector employers added 50,000 jobs, the Labor Department said Friday. The December number was revised to show an increase of 121,000 jobs from a previous estimate of 103,000.

The unemployment rate, which is obtained from a separate household survey, fell to 9.0% last month. About 13.86 million people who would like to work can’t get a job; Wall Street Journal – 2/4/2011

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