On Friday US Employment numbers showed a drop in the unemployment rate from 8.5% to 8.3%. Though the results initially looked encouraging, the results may of not told the real story. In this election year, the government will throw everything it can to its’ re-election campaign. The numbers did not reflect the 1.2 million people that withdrew from actively searching for work. Also the quality of jobs was of the part-time and lower paying type.  The reality is that the standard of living for many Americans is diminishing. The American Dream is eroding as more and more become debt slaves to an economic system that is being manipulated for the benefit of those in Power.

The Canadian employment results showed a 1/10th of a percentage rise in the unemployment results. The actual rate increased to 7.6% from 7.5% as only 2300 new jobs were created. The economists, were looking for 25,000 jobs in their estimates yet like they normally do is try and pull a rabbit out of someone’s butt to make it look like they are justified in earning the salary they do. It is the pending tsunami of personal debt load in this country that has the politicians worried. With events like the Caterpillar Corp, pulling out of London, Ontario and taking its’450 jobs, the standard of living in Canada is also coming to a head. Thanks to globalization, Unions and their leaders can continue to bark but they will have to make concessions if they want jobs to remain within our borders. Personally, I feel for the people as our government provided tax incentives to the company for which they took advantage of and then they asked for draconian cuts of 50% in wages and benefits. Unfortunately the workers are now dust in the wind while their leaders continue to march to the beat of “Glory, Glory Alleluia and the Union keeps us Strong!”

http://www.ritholtz.com/blog/2012/02/a-few-thoughts-on-the-employment-situation/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29&utm_content=Google+Reader  (Click on to read further about the reality of numbers)