The Labor Department reported that the national unemployment rate plunged to 9 percent in January from 9.4 percent in December, the Labor Department said Friday. Yet, the economy only created 36,000 new jobs and in the same report they revised down last years U.S. population and employment estimates by 347,000 and 472,000 respectively.
Given the level of excitement in the stock market over this "positive improvement in the economy" COS News asked its best (and only) analyst Mike West to review the numbers.
"I see a problem," West says.
Going on one of his typical unintelligible rants West continued... "The U.S. population count is estimated to be 306,000,000 and some change. None of the numbers they are throwing out appear to be within the threshold of any significance. I used a $10 calculator to determine that if you divide 36,000 by the US population it is only .0001, that's only 1/100 of 1%. O.K. let me put it this way, if you had a penny, you would have to chop that penny up into 10,000 pieces to visualize that number. Now imagine that you have one of those pieces in your hand- that is what 36,000 jobs is worth to you."
Confused, COS News asked Mrs. Connie Kitts, Middle School Math Teacher at Bay Haven Charter School to shed some light on this report.
"If one of my students turned this muddled report in as their homework, I'd give them a D and tell them, try again." says Mrs Kitts. "I don't like to be harsh but sometimes you need to send a message." "I have been teaching for years but it doesn't take an experienced 8th grade math teacher to know that the student either doesn't understand the assignment or they are not trying hard enough." "If they showed more of their work maybe I could help them," says Kitts. "Go Bobcats!!!!"
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