88 million no longer in work force presents dire warning

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88 million no longer in work force presents dire warning

I don't think that it does... retirees are not normally considered for those statistics as they are considered "retired" and not unemployed

Click!

Our government cooks the books on almost every statistics they give out. Unemployment isn't any different than inflation in that regard. They don't count people that have given up looking for jobs and they don't say anything about the tons of people that are underemployed. The situation in American is a lot worse than they say it is.

Was annoying to read. I don't know terms such as u-3, u-6, etc.

ruveyn is right on this one. the unemployment rate is said to be aprox 5% here but it doesnt include those who are under employed, those who have given up, those who cant start right away, are unable to work(the disabled) and those living in places like prison. either way even if it was 5% that still means 1 in 20 people who are jobless. i also find it hard to believe the claim that the unemployment rate here has fallen slightly when in february 15,4000 jobs were cut from the market & large corporations, the government and universities are sacking people left, right and centre. the word mcjob seems to be a good descriptor of the sort of work people have today.

I like how the news reports that jobless claims are on the decline, without mentioning that many people out of work no longer receive benefits. It's like these people have been ignored.

EDIT:

Actually, is the news really the news anymore?

Jobless Claims Jump

I say humorously we need to build more prisons. Prisoners are not considered unemployed, the guards are employed, the counselors are employed, etc. Conclusion, more prisons will lower the unemployment rate.

It is higher than the number, because those who went 99 weeks are not counted, even if they are applying.

Small business has come down to owners running it at a loss, because if they quit, they still owe the lease, so it is cheaper to stay open, as a non profit.

Those who have never gotten a job are not counted.

I liked that line about devaluing the dollar to produce industrial jobs. Right,

India would take that at rates we could not eat on.

"We had to destroy the village to save it."

We are near the Great Depression numbers in unemployed, and duration.

We exceed the depression in losses, still unreported, and foreclosures.

Foreclosed properties must pay the outstanding taxes and insurance. Utilities, yard work, repairs, this comes out of bank capital.

No matter who claims what, it was not the government, the banks, Wall Street, who caused this. It was Free Trade, and letting the Free Market work.

Houses, cars, any product, is produced till the market is glutted. Free Trade does produce cheaper goods, but kills consumer income. There is no way to go back to producing more expensive goods. Who would buy them?

Things in oversupply get cheaper, and that over a third in real estate was a huge number in assets, that vanished.

That lead to downscaling living, which further killed demand. Qualified buyers do not want it.

The People lost about as much as the National Debt, but they owned about 10%, the rest was owned by the banks. Bank Assets are a Black Hole. Everything was insured, Derivitives, but who can pay $150 Trillion?

No insurance company expects every house they insure to burn down in the same year.

"Shirtsleeves to shirtsleeves in three generations." Grandpa worked, saved, started a business, and his son lived well, people worked for him, his son learned nothing, did not have to, everyone woulfd loan him money, and when a down turn came he lost everything, and had no skills. Factory owner to unskilled labor overnight.

It takes generations to work your way back up, if the oppertunity exists.

Housing is in decline, jobs, income, food and gas cost more.

This could last for a while.

The official unemployment rate where I live is supposedly 4.9% and rising. However, people who aren't looking for employment anymore are not counted, and there are plenty of those. Not added either is that the labour market is completely out of balance. Apparently, there is demand for people in technical jobs and in low-paid blue collar jobs, but higher education produces a lot of people with a degree in art, law, sociology or psychology (fields that want to introduce a cap on the number of students admitted each year). These people, if they can attain non-flexible employment, aren't paid that much. Professional jurists in large companies aren't paid that much more than policemen.