The lead article in the Friday Business section of the Chronicle proclaimed, "Job market ends year in better place" (Page D1). As proof, the article claimed that the number of people applying for unemployment benefits each week has dropped by 10 percent since January to 375,000, the lowest level since June 2008.
This is just happy talk. The real reason for the decrease in applications is very simple. In the past four years, everybody that can be laid off has been laid off. Tens of millions of jobs have been lost and are not coming back, and companies across America are down to a bare-bones staff. In this terrible economy, it was inevitable that unemployment applications would fall.
I wait with bated breath for the next proof that the economy is improving: the falling number of people who collect unemployment, as hundreds of thousands of workers exhaust their eligibility for benefits.
The Obama administration will no doubt portray this as great news.
Pathetic.
http://www.chron.com/opinion/letters/article/Letters-Jobs-judges-boomers-2433604.php
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