President Obama will give his State on the Union address tonight and he’ll reportedly claim that the economy is improving, but we need to do more. Bravo to that!
The unemployment rate has improved since last year. But one can argue that the slight improvement is due to the fact that people have stopped looking for work – they are as the Labor Department puts it “not in the labor market.”
If you were to include the individuals who have given up looking for work what would be the unemployment rate be? 20 percent? And why doesn’t the Labor Department include discouraged workers?
On a positive note, here in Boston we do have strong signs that the economy in improving. As noted in past blog posts, the unemployment rate in Massachusetts has been going down for a while now. The real estate market has been holding strong compared to most parts of the country. Boston condo inventory is near record lows, which indicates Boston condos are selling.
So what are your thooughts? How would you grade President Obama’s handling of the economy?