Unemployment still at 10%. [pause] Yipe.
I was hoping for a drop down into single digits, even if it was a high one. But hope is not a plan, as the current ruling party seems determined to prove. Short version: we lost 85K jobs last month – they were expecting a gain – and the number is only holding still because a lot of people gave up looking for work. If you count that number, we’re at 17.3% and that’s up from 17.2% in November. The report then goes into a lot of detail to avoid coming out and saying that the economy’s currently in neutral, we’re on a slight downward slope, and the administration’s turned on the windshield wipers and called it setting the parking brake.
And, oh, yes: they’ve straightened the wheels, because the previous drivers all braced them against the curb.
Crossposted to Moe Lane.