Outlook for Job Market? Bah, Humbug

Downsized: Unemployed Businessman
Getty Images/Vetta

It's easy to be anesthetized by the government's telling us the job market is getting better. But your appropriate reaction should be, "Bah, humbug!" Only people who believe in Santa Claus could think the employment situation is getting better, let alone is good.

The reported unemployment rate is grossly misleading because it counts as employed such people as the former middle-incomer who now makes minimum wage. Through the so-called recovery, median household income in real dollars continues to plummet.