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Unemployment hits record low since 2008 market crash

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NPR reported yesterday on February 8, 2014 that the new unemployment numbers from the end of January showed a significant drop even though the Job Growth in America is still sluggish.

“The U.S. added just 113,000 jobs in January, instead of the 180,000 analysts had predicted. Despite the anemic gains, the unemployment rate inched down to 6.6 percent, the lowest level since October 2008.” Reports Chris Arnold of NPR.

This is leading the average citizen in the United States to wonder how this contradiction in numbers can actually occur. If the number of people on unemployment is so low, shouldn’t there also be proof of a rapid rise in new employment opportunities to compensate? Unfortunately, this is not necessarily true.

A report from the Orlando Sentinel today February 9, 2014 shows that the State of Florida has created nearly 500,000 jobs in the past 2 years but still has the 2nd highest level of American’s on long term unemployment. All this is happening even though Florida is also apparently witnessing a slight rebound in the housing market once again.

The Rise in Freelancing is one of the reasons why these statistical contradictions keep occurring. We saw these same illogical inconsistencies back in December of 2012. And as many have predicted, including this columnist, national unemployment rates keep dropping even though unemployment benefits are being taken away, the cost of living continues to soar, and the global economy remains basically unchanged.

So how are people making a living? Freelancing sites like Fiverr have witnessed a huge increase in business. In only a few short months at the end of last year, this creator of the new freelancing term “the gig economy” has seen an over 150% increase in freelancing professionals join their site and begin earning a living. Fiverr is also constantly upgrading their website and offering new perks and incentives to their sellers.

Only 6 short months ago, the maximum per-order cost on Fiverr was only $500. Now, it has jumped to a maximum of $8,200 per order. This means that a single sale can keep most households eating for at least 6-months or longer. Not a bad “gig” for most working Americans. As the public’s trust in the Obama Administration and the current 113th Congress continue to falter, freelancing is only expected to continue to rise in popularity for a long time to come.


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