I am delighted as anyone that the latest unemployment figures show a slight drop in joblessness to 10%. Much of the media is upbeat as well — which raises the question: in 2004, John Kerry ran on the theme of a “jobless recovery,” a charge resonating through the major media outlets. Yet unemployment in the last quarter of 2004, when these accusations were most frequent, was 5.4% — and soon dipped to average 5% for 2005. If 5.4% is termed “jobless”, what is 10% — job-full?
Victor Davis Hanson
The opinion piece this quote came from is full of quotables, and is entirely thought-provoking: Our Present Anxieties.
Silver Takes the Elevator Down, Report 30 April, 2017
32 minutes ago