Low U.S. Unemployment Rate: Why Many Aren't Celebrating

[Purveyor]

WASHINGTON (AP) -- The unemployment rate no longer seems to reflect America's mood.

Friday's strong jobs report showed that the jobless rate - the most closely watched gauge of the economy's health - is down to 5.8 percent. A year ago, the rate was 7.2 percent. Five years ago, it was 10 percent.

It's the kind of sustained decline that would normally suggest a satisfied public.

Not so much anymore. After Tuesday's midterm elections, exit polling showed how little falling unemployment has resonated. Most voters said they cast their ballots out of fear for the economy, stripping the Democrats from the Senate majority and implicitly rejecting President Barack Obama.

Many Americans don't feel they've benefited from falling unemployment any more than they have from a sustained rise in the stock market or from solid U.S. economic growth.

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http://www.nwherald.com/2014/11/08/low-u-s-unemployment-rate-why-many-arent-celebrating/a249e6c/

[DustyJoe]

1. Just Numbers

Just like the Govt telling me that my cost of living for the past year has only gone up 1.5% so that's what
my SS benefit increase, the unemployment numbers are just cooked numbers. Most people can just look around them and see those numbers are just cooked also. When I saw my grandson graduate high school, attend college for 4 years and attain his degree, 2 years later still holding down 2 part time jobs, 1 collecting shopping carts at Target and another waiting tables in the evening. I stop and wonder if his 2 jobs hit the unemployment drop double too. Just phony numbers.

[Odin2005]

2. As I have said several times, the numbers are meaningless to the average person.

The average Joe and Jane is having trouble making ends meat, is underemployed, and is crushed by college loan payments. When they see the pundits and politicians talking about the "Recovery" they go "WHAT RECOVERY", and dismiss the politicians as out of touch.