Quote:
Originally posted by Mike AI@Feb 27 2004, 12:31 PM
Yeah unfortunately many Americans do not understand how the economy works. Ignorance helps politicians.
I think the economy is doing pretty well.... but I have not had to look for a job.
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GDP is growing strongly the past 6 months. Unemployment rate is just a tad
below its historical average. This is an average to above average economy and growing.
Ignorance is quoting the number of people out of work as a record when not adjusting for population or the number of people who are working. 5.9% unemployment in 2004 is not worse than 25% in 1933. Anyone who falls for such things can't divide.
There's absolutely nothing wrong with a 5.9% unemployment rate. The entire period from 1974-1987 had unemployment higher than that. For that matter, most western nations are considerably higher than that.