strong. pick up activity but not too much. you ve want ben bernanke there but you don t want him to have to necessarily move away from there with good strong news. is this that balance and have we found it and maybe is this the sweet spot for both the economy and the market? i d like to say there is and i d like to say i m enthusiastic about the numbers. while we added 195,000 jobs the employee population went up 189,000 people. the used fixed rate which includes people working parttime for economic reasons when from unemployment rate of 14.3. if we had 65% labor participation today also we did in october of 2009, when up employment peeked at 10%, unemployment would be at 9.5%. so once you get into these numbers i think some of the market s reaction, positive reaction today, was due to the fact that these numbers really
themselves, isn t it? well, they sure liked his help on wall street but is the help trickling down to main street? that s my concern. the job number was very good but look at the internals, the u-6. that didn t do too well that s that? how many more unemployed people we added to the ranks. 17,000 more. it went from 13.8 to 14.3. look at the quality of jobs. we hit all-time high for percentage of parttime workers now, neil, and that s a direct result of obamacare. maybe we ll get an increase in that because mr. obama has given us a year before it has to be implemented so we have an election coming up. that was anticipated. but i wouldn t be popping the champagne corks just yet. this is great for wall street but not so great for main street, and i don t think we re going to get more than 1.8% gdp, and one last thing.
has grown from 14.3% in 2009 to now almost 17% of the country. and the number of americans participating in food stamp programs have also nearly tripled over the past decade. while some reports are warning that the sequestration cuts are bound to make this worse, it s interesting to note that these numbers all worsened amid a massive increase in spending to fight poverty. federal spending on the poor hit more than $569 billion in fiscal year 2011. that s a 5,500% increase from 1907 which far outpaces inflation. in the past two years the federal government spent more than $1 trillion on programs for the poor and yet the percentage of working americans is down and the rate of americans living in poverty which for a family of four means earning less than $23,021 a year, continues to climb. while spending cuts may make matters worse, it seems spending increases aren t making them better. thanks so much, diane. the time now is almost
years as been reclining. the real unemployment rate that he is referring to is at 14.3%. you can see that that includes people that are no longer looking for work and those who are under employed. david asman is the host of forbes on fox and has interviewed mort zuckerman many times before. what do you think of the claims that this is all in some cases a facade, the economy isn t really improving. it s actually spot on. companies right now are desperately trying to lower the cost of doing business. it s very expensive to do business in america right now. of course taxes we have the highest corporate tax rate in the world. small businesses are suffering much more than the corporations, and the regulations cost a lot of money. regulation is kind of a tax for a business because they have to spend man-hours dealing with regulations, sometimes they have to hire whole new divisions to deal with regulations, and you think of all the new regulations we have because of obama care, because of
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