Sunday, September 30, 2012

Jobless Rate Continues Up

Bloomberg reports the likelihood of a continued rise in unemployment in September, after a rise in August, from 8.1% to 8.2%. In spite of this economic misery, the MSM continues to predict an Obama reelection.

If it turns out to be an accurate prediction, political scientists will need to come up with some new theories to explain this illogical outcome. I can imagine two: perhaps Mitt Romney was a poor candidate choice. Many believe this to be true.

Alternatively, perhaps our electorate has experienced a high unemployment rate for so long that they've become accustomed to it. The electorates of several major European nations feel this way, having tolerated unemployment rates of 10% or more for decades.

Large numbers of our former workers have supposedly become "discouraged and no longer seek work." What if many of these people have found a way to survive without working and like not working?

Maybe they aren't discouraged but are instead in one way or another "retired." Perhaps they now draw disability payments or early retirement benefits.