The news released last week that the nation’s unemployment rate has dropped to 6.7% caught everyone off guard and the Obama Administration was quick to capitalize on the news.
COMMENTS:
Getting less attention was the fact that the percentage of
eligible workers participating in the labor market was at its lowest point
since 1978. In summary, fewer people are
looking for work because the jobs are just not there. This is backed up by the fact that we had the
lowest number of new jobs created in three years. I’ve said this before, but not for quite some
time: If everybody in the country was
out of work and out of unemployment benefits, the unemployment rate would be
0.0%. The method for measuring activity
in the labor market is so flawed that it is virtually meaningless and
useless.
TODAY’S QUERIES & ANSWERS:
Q. Everyone knows that a top executive at CGI, the Canadian
firm behind the ObamaCare website debacle, went to Princeton with
Michelle Obama. Now I hear that CGI is being
replaced. Do you know anything about the
new firm? (Opal ~ Yuma, AZ)
A. It is Accenture, a global technology and consulting
firm. Forbes speaks highly of them and I’ve
not been able to dig up anything derogatory, but I did find four or five dog bones.
Q. The ACLU has filed suit to declare the NSA’s collection
of personal information on citizens as unconstitutional, and I hear the NRA is
backing them up. Isn’t that really the odd couple? (Denny ~ Seattle, WA)
A. The NRA filed an amicus brief because it believes
continued collection of information could identify NRA members and subject them
to political retribution. Nawww, really?
Q. I understand there’s now a big push on to eliminate background
checks for past criminal behavior on the part of new hires. It seems to me that this would expose companies
to some serious liability issues if an employee with a criminal background robbed or shot somebody. (Bernard ~ Las Vegas, NV)
A. Agreed. But the
liberal left-wingers don’t want you to be able to identify the core of their
ranks.
TODAY’S QUOTE:
“It could probably be shown by
facts and figures that there is no distinctly native criminal class except
Congress.” ~ Mark Twain
TODAY’S VIDEO:
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