October 28, 2014

Real economics: Jobs

U.S. employers added 248,000 jobs in September, a burst of hiring that helped drive down the unemployment rate to 5.9 percent, the lowest since July 2008.

The September data confimed that the whopping surge in jobs was thanks to your "grandparents" those in the 55-69 age group, which comprised the vast majority of the job additions in the month, at a whopping 230K. What about the prime worker demographic, those aged 25-54 and whose work output is supposed to propel the US economy forward? They lost 10,000 jobs. [Zero Hedge]

OFF THE CHARTS



Just 24% of people cut off from unemployment benefits have since found work

Jobs added since the recovery began pay 23% less than the jobs lost at the height of the Recession

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