by Cal Thomas
Posted 12/13/12, 11:21 am
SINGAPORE—While the U.S. unemployment rate "dropped" to 7.7 percent last month—a figure even The Washington Post acknowledged was due "… in large part because the labor force fell by 350,000 …"—here in this modern and prosperous city-state of slightly more than 5 million people, unemployment is practically nonexistent.
A taxi driver tells me, "Everyone here works." With unemployment at an astonishingly low 1.9 percent, he is nearly right.