04 Dec '11, 3am

Unemployment Falls, But Is That Good? | Care2 Causes

The November unemployment numbers had many cheering this week, as the economy added 120,000 new jobs, and the unemployment number dropped to 8.6 percent, the lowest it has been since March of 2009. But unfortunately, that’s not necessarily a good thing. According to the Associated Press , “More than half the jobs added last month were by retailers, restaurants and bars,” a sure sign that the annual bout of seasonal hiring is already underway. And with many retailers starting their Christmas season ridiculously early (like 11pm early), that hiring spike is already done for the year, and we can expect an equal drop of most of those jobs around January. Also included in the fall of the unemployment rate is the 300,000 people who dropped out of the job search, meaning that they not only are out of work, but have given up even searching for a new job. It won’t be until these pe...

Full article: http://www.care2.com/causes/unemployment-falls-but-is-tha...

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