Finding gainful employment in the current economy feels an awful lot like the dating scene. Like modern romance, job hunting is virtually virtual. There are more lookers than buyers. When you do find a match it’s not quite what it originally seemed, or the really good looking ones go quickly.
Not to get too mathy – but according to the Department of Labor’s own press release the unemployment rate drop of 4% represents a change of 600,000 jobs. In the very same report only 36,000 net jobs were added to the economy. This is a 564,000 discrepancy in one month and nearly 1.5 million jobs in the past few months. Jobs aren’t being created, the jobless are just disappearing.
Out of the jobs that were created, The Week reports that 2/3rds of all jobs created in 2010 were "low paying jobs - $9 to $15 per hour."
Americans put a lot of value in statistics. One assumes that utilizing government resources that the statistic will be unbiased and consistent. How the Unemployment Rate is calculated takes 19-pages to outline its history and methodology. The rate is not consistently calculated and therefore comparisons from one period of time to another (i.e. the Depression) can’t really be done without adjusting the rate for consistency. We can't just accept that "Avatar" is the best selling movie of all time without adjusting for inflation and currency adjustments all movies of all time.