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Unemployment May Be Down, but Our Future Looks Like a Disaster

Economics / Employment Nov 11, 2014 - 03:39 PM GMT

By: Money_Morning

Economics

Shah Gilani writes: Finally, things are better, right?

I’m talking about the Friday employment numbers, not the election.

Though they do have something in common. I’ll get to that.v


But first let’s celebrate how good we all feel now that unemployment is down to 5.8% — its lowest level since July 2008.

OK, now it’s time to get back to the election, which put Republicans back in charge of the U.S. Senate.

But not because I’m going to comment on it. At least not yet…

We Can’t Get No…

The big media conducted some national exit polls on Tuesday.

And in light of the how lighthearted we’re supposed to feel about that 5.8% unemployment number, I thought I’d share some of those exit-poll numbers with you.

In case you don’t feel all warm and fuzzy about the headline unemployment figure – and are wondering how other people feel about how good they feel – here’s some food for fodder.

According to exit polls, 35% of people who voted feel things in the country, mainly the economy, are getting better. Almost as many, 31%, however, think things are getting worse. And 35% said “things are the same.”

That compares to 64% of voters and nonvoters in a late-October Wall Street Journal/NBC News poll who said they were “somewhat” or “very dissatisfied” with the state of the economy. Only 36% said they were “somewhat” or “very satisfied” with the economy.

The exit polls had 50% of voters saying they expected life for the next generation of Americans would be worse than it’s been for them.

But again, a broader WSJ/NBC poll of both voters and nonvoters conducted in August found that 76% of people surveyed doubt their children will have better lives than they do.

So, if you’re not feeling all warm and fuzzy that unemployment fell to 5.8%, it’s understandable.

After all, if you read between the lines of Friday’s unemployment stories, you know that 7 million working people in October were working part-time jobs because they couldn’t find full-time jobs. That’s 2 million above pre-Great Recession levels.

You also may not be feeling all that warm and fuzzy because we’re likely headed for a lot more feuding between Congress and the White House as the United States rots.

That’s understandable, too.

What do the headline employment numbers and the election have in common?

Why don’t you tell me what you think in the comments below? I want to hear from you.

Then, I’ll get back to telling you how to make money.

Because making money is All-American, baby!

Source : http://www.wallstreetinsightsandindictments.com/2014/11/unemployment-may-future-looks-like-disaster/

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