Published: Thursday, June 26 2014 12:00 a.m. MDT
This short term number dip doesn't necessarily mean that companies are
hiring. It could just mean more people are reaching their maximum time for
receiving unemployment benefits, but are still jobless... especially since there
was a 4 week average rise in unemployment benefit payments. That,
combined with the fact the economy dropped at it's worst annual rate since
Obama took office could be one of the reasons the DOW lost over 100 points
within the first hour of trading this morning. As has been pointed out
numerous times by multiple sources, this continues to be the worst recession
recovery in national history.
The dow has hit 15,000 & 16000 previously. New records. But hey, let's keep saying the economy is 'worse off'
since Obama took over. Because when Bush left office, they called it
the 'Financial Meltdown'.
@ Pagan, The dow doesn't alone is not a trustworthy number. It
is a nice piece of the puzzle, but only a small piece. I think the economy is
improving steadily and hope it continues to do so. But if you want to make an
argument against those who say it's not improving, you need to show that
multiple indicators have show improvement. GDP would be up. Consumer
attitudes. # of people on welfare would be down. # of long term unemployed
would be down (I think this is true thankfully!), # employed in non-29 hour a
week jobs would be up, etc. Otherwise it's just too porous an argument to
convince anyone. Nor should it. Dow can be up and it might only really
influence the wealthier portion of society.
Will someone please, provide a list of improvements to the economy, over the
past six years.
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