The low, low unemployment numbers


It's time we got this straight. All the crying about the unemployment figures is unwarranted. Why? Unemployment numbers are some of the lowest we've seen in the last 30 years.

Take a look for yourself. The average unemployment for the 1970's was under 5%. But for the 1970s, 1980s, and 1990s, it averaged just under 6% to just over 7%. March unemployment figures came in at 5.1%, and the media is screaming about how high unemployment is.

High? Isn't 5.1% less than 6% or 7%? In this century, unemployment rates have hovered around 5%, so this is no news at all. We don't have zillions of people unemployed. And... while some types of jobs are being done away with, there are still lots of jobs available for those who want them. They may not all be the most desirable jobs, but they certainly have the ability to help feed a family while the breadwinner gets retrained or more educated, or otherwise looks for a more suitable job.

Don't buy into the media hype of unemployment figures being at a catastrophic level. The fact is that the statistics don't prove what the media is saying, and they're being blatantly dishonest during an election year. To the American economy, I say "Rock on."

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.