US Recovery Stats – Not Really all that good…

If the US economy really is creating jobs, then you’d expect the rate of creation to be up there with growth. But it isn’t. In the last quarter of 2011, American economic growth was recorded as 2.8%. In that period, roughly 145,000 jobs were ‘created’ according to the Labor stats. That adds up to a 0.3% growth in jobs. New technology to cut costs is gradually rendering more and more of middle class America unemployed. 243,000 jobs were ‘created’ in January alone – still only a 0.5% increase. A good time to look again at this will be the end of March, when Q1 economic performance can again be compared side-by-side with ‘new’ jobs.

via US JOB STATS: Why the Americans are getting excited about nothing. | The Slog.

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