Unemployment Rates High or Low?
How real is the so called "break through" of unemployment rates in America. This January marks the eighth year of an employment rate low. This year is the lowest the rate has been since 2008. 158,000 jobs have been added to businesses, while the state and local government lost 7,000 jobs according to Paul Davidson in USA Today. The current rate is 5% in the United States and the nation itself has never been more wealthy. The GDP is at 18 trillion, while the GDP per capita is at $54,624. Though the job growth seems to be substantial, the statistics on rates with part time jobs are significantly higher than full time jobs. This means a vast majority are missing out on benefits. The gains are going to the wealthy. The median household income actually has declined. Cost of important expenses such as healthcare and education are rising while the price for things such as entertainment and clothes remain affordable. This is thanks to a lack of inflation. If the prices for the essent