The unemployment rate has fallen from 10 percent to 9.7 percent. But, like the fourth quarter growth number of 5.7 percent, it is hard to get excited about this number. Obviously it’s good to have rising growth and falling unemployment. Yet the positive macro-economic numbers do not mesh with the everyday realities of many workers (and voters), who see a stagnant economy and a comatose job market. For instance, the percentage of people who have been out of work for 27 weeks or more rose to 41.2 percent in January. A record high.
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