Today's monthly unemployment report offered good news, right? After all, the unemployment rate dropped from 8.2 percent in March to 8.1 percent in April. Employment rose by 110,000.
Unfortunately, the declining unemployment rate stems from more people leaving the workforce. As CNN reported:
The Labor Department also reported that the number of jobs rose by 115,000, lower than many economists had predicted. According to the report, 342,000 workers dropped out of the labor force, with the labor force participation rate, now at 63.6%, at its lowest level since 1981.
If the (political) goal and good is a low unemployment rate, then the logical strategy is to keep forcing people out of the workforce. Discourage them, drive them into retirement, get them to take out more student loans to attend college.
What would it take to really cut into the unemployment rate? We asked some accounting friends of ours, who ran the calculations for us (using the current number of unemployed, 12.5 million).
It's doable!
Alas.
Carter Wood, (Business Roundtable)
Carter Wood is a Senior Communications Advisor at Business Roundtable.
This article was published
by Carter Wood on
May 04, 2012 in Tax And Fiscal Policy.
Topics: Economic Growth, Jobs.
RT @LillyPad: While exploding costs undermine viability of many gov't programs, #PartD outperforms its promises. http://t.co/xhd9OoWKZb
RT @Accenture: Survey: 52% govt leaders lack #analytics understanding. Learn more. #publicservice http://t.co/o192ui84S3
Thanks to Kevin Madden, Jonathan Karl and Stephanie Cutter for talking about crisis communications this week at BRT. http://t.co/cmakALRJS8
Intl Paper John CEO Faraci Says Broaden Tax Base, Lower Corporate Rate via @BloombergTV http://t.co/qsxd2X8KDQ
You may also be interested in the following related articles on Business Roundtable Today…
Search the Business Roundtable Today archive for interesting content.
Comments