Posted on 06/21/2011 3:43:42 AM PDT by MontaniSemperLiberi
In the face of the most stimulative fiscal and monetary policies in our history, we have experienced the loss of over 7 million jobs, wiping out every job gained since the year 2000. From the moment the Obama administration came into office, there have been no net increases in full-time jobs, only in part-time jobs. This is contrary to all previous recessions. Employers are not recalling the workers they laid off from full-time employment. Click here to find out more!
The real job losses are greater than the estimate of 7.5 million. They are closer to 10.5 million, as 3 million people have stopped looking for work. Equally troublesome is the lower labor participation rate; some 5 million jobs have vanished from manufacturing, long America's greatest strength. Just think: Total payrolls today amount to 131 million, but this figure is lower than it was at the beginning of the year 2000, even though our population has grown by nearly 30 million.
The most recent statistics are unsettling and dismaying, despite the increase of 54,000 jobs in the May numbers. Nonagricultural full-time employment actually fell by 142,000, on top of the 291,000 decline the preceding month. Half of the new jobs created are in temporary help agencies, as firms resist hiring full-time workers.
(Excerpt) Read more at usnews.com ...
More at the link.
We have 131 million people employed (fewer in private industry). Based upon population gains, we should have nearly 150 million employed.
That's how ill our economy is right now.
bump for later
That’s a “change” from the ways of the past.
Because the Dept of Labor Statistics "fudges" the unemployment data today for political reasons, real unemployment data is hidden from the general public. The News Media goes along.
The Real Unemployment Rate for right now, today, June 2011, is 22%.
The only difference between the Great Depression and today is massive smoke and mirrors by the Fed, the banks, and our government.
If it all collapses suddenly, the tsunami wave will be greater than that of 1929 by volumes.
The ONLY DIFFERENCE is today we have EBT cards and back then we had SOUP LINES. What you say is true and verifiable.
LLS
only difference between now and 1929 is the gubmint is printing money to support all those non-workers. If the government pays people not to work then you will have more people unemployed.
I agree with all except that I think the REAL unemployment may be even higher than the 22 percent that you quote. I would count many government employees in with those who are living on food stamps etc. We have a much higher percentage of Americans working for government than in the thirties and many of them are doing COUNTERPRODUCTIVE “jobs”, in many cases we would be better off to pay them to go fishing.
One difference is the make up of the work force now includes a substantial number of women. This leads me to believe that the percentage of the population that is in the work force is probably higher today, hence 25% unemployment today may not be equivalent to 25% back then.
We hear a lot about people who simply drop out keeping the unemployment number “low”. I wonder how many of those are part of a formerly two income family who have now decided (not entirely voluntarily) to make a life style change to a one income family.
Seems to me it would be better to make $5 an hour performing some simple task than $0 an hour unemployed because the would-be employer can't justify paying $7.50!
But wait the federal governments proposes interest-free ,forgiveable home loans to benefit 30,000 (probably obama supporters) while I must continue to pay my bills out of what the government doesn't take!!!
And we continue to import 125,000 new legal workers each month while per PEW 8 million illegals have jobs!
The numbers also do not consider the number of people going into the underground economy...which is expanding rapidly, much of it linked to crime.
That is certainly the case. There are also a lot of older unemployed workers who are dipping into their retirement savings to survive until age 62 when they can start drawing SS. Or if older than 62 and unemployed, they're taking SS early than they were planning to.
Looks like employers are only hiring part time...gave blood and everyone there was working part time..most had two part time jobs..and all wanted a full time job..no benefits..thank OBAMA>>>
1.25 million houses need to be built to consider a strong housing market. For every house built 2 people have jobs. That’s 2.5 million workers.
There are currently 800,000 houses being built. That’s 1.6 million workers. And that 800,000 figure is a few months old. The number is still dropping. Times will get worse.
I got these numbers from NAR. Now it’s being reported that existing home sales dropped 3.8% in one month!
Existing home sales USED to represent 2/3 of all home sales. If that’s true that means existing home sales will continue to fall.
I bought my house for $147,000 in 2009. It was one of the cheapest houses in the neighborhood. Wife said there’s a foreclosure in my neighborhood with a sale pending for ....... $85,000. The bank must have taken one huge hit.
There’s another factor also.
Because the job market sucks and there’s no mobility due to the real estate market lockup, employers are working the help like rented mules.
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