Welcome friends to another edition of Economic Update, a weekly program devoted to the economic dimensions of our lives and those of our children.

I'm your host, Richard Wolf.

As usual, I want to begin by reminding you that we have a volunteer, Charlie Fabian,

who's already unwilling to take your suggestions, comments, for segments to be developed for this program.

You can email him at Charlie.

dot info 438.gmail.com.

Or you can now connect through Twitter as well, the former Twitter, at Charlie

Fab's F-A-B-Z with the F- capitalized.

Okay, two ways to get to Charlie and provide him as you have been doing with valuable

suggestions that we can use.

Today's program is going to be talking about unemployment, about why

restaurants are in trouble in America, the irony of Janet Yellen's

commentaries, and new report on tax breaks for billionaires in the United States.

In our second half, we will interview Steve Early, a long-time labor activist talking about the rising labor militancy, why it's happening, where it's going,

very important part of our culture and our society right now.

So let's jump in.

Many of you have asked me to talk about why

the unemployment rate in the United States

is, at least in historical terms the official rate as low as it now is 3 to 4 percent etc.

And my apologies I thought I had handled that question, but I probably didn't do it in the way that it could have and should have been done.

So let me do it now.

The basic answer to the question, why is unemployment low, is because it has been made profitable

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