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Brooks Wilson's Economics Blog: Unemployment: December 2010

Saturday, December 4, 2010

Unemployment: December 2010

Today’s U.S. Employment Situation Report was bad.  The unemployment rate rose from 9.6% to 9.8% while the labor-force participation rate remained unchanged.  The private sector created a meager 50,000 jobs. 

The economy is seventeen months into a modest recovery but labor markets are frozen solid in recession.  Policy makers in two administrations have reached some sort of consensus: throw money at the problem.  We have spent trillions through fiscal policy (TARP, the ARRA, etc.) and monetary policy (QE1 and QE2) with little impact on employment.  I hope that the election was a manifestation of wisdom by the electorate, the realization that government does not have all the answers and is not all powerful. 


  1. True, we think the government is the almighty. Somehow we expect them to fix every problem our nation confronts. But the truth is that they are not the only ones responsible, we are too. If the unemployment rate went up 2% then let's hope that our actions and choices help for a recovery. Not leave everything in the politicians hands.

  2. Agreed, we need to take charge of our lives and how they are lived. If the government wont change things than we will, I was talking with my mother earlier today and we were discussing the gas prices and how outrageous they are, she told me that one day something small is going to happen and it will change everything. like making food and paper goods hard to come buy, changing paper currency to absolutley worthless and making gold what we use as money. I hope this doesnt happen in my or my childrens life thime but I know that whenever it does happen it will be something that we couldnt even imagine. Buta s the unemployment rates rise and our debt grows that day just gets closer and closer. so my thought is VOTE! if you want change take charge and become part of this country.

  3. Johnathan Gidney15/12/10 9:01 AM

    We give WAY to much power to our government, and screw up after screw up we still leave the power with them, which they can't agree to do anything with. A lot of times they help other countries rather than our own. It's time to focus on our selfs.

  4. Corey Castillo15/12/10 11:24 PM

    Us citizens are making ourselves look helpless. We're waiting for some higher power to fix everything. Its an example of how lazy we have become. We are too comfortable with our lives and do not believe that we are fit to change. The reality is, that we are more fit to make a change than the government is. Too many people are drawing unemployment benefits and NOT looking for a job. Thats just an example of how lazy society has become. One day we will realize that we control our own fate. That will be the day that we will rise up.