Here is a June 2009 version of the summary that calculates the Effective Unemployment Rate, which is now 18.70%, and the Effective Number of Unemployed, which is now 30,172,000.
There are currently 14,729,000 officially unemployed workers, as just announced. However, this figure does not include the combined 15,443,000 workers either (1) in the "labor force reserve" because they have abandoned their job searches (i.e., 4,278,000) or (2) underemployed because they are "part-time of necessity" (i.e., 8,989,000) or "otherwise marginally attached" (i.e., 2,176,000).
The effective unemployment rate is therefore 18.70%, instead of the official 9.51%.
Since the start of the recession in December 2007, the number of workers who are officially unemployed has increased by 7,188,000, while almost twice as many workers - 13,290,000 - have become effectively unemployed. And all the while, we should have been creating around 2,250,000 new jobs (i.e., 18 months times 125,000 jobs per month) just to keep up with population growth.
In June, the number of workers officially unemployed increased 218,000, while the number of workers effectively unemployed actually decreased 35,000.
It's important to see the entire picture of America's jobs profile -- no matter how unpleasant.
I recognize that credit bubble related recoveries are hard to work out and are usually quite slow -- with job growth at the back end. This all makes sense -- but with Christina Romer out raising expectations again with giddy talk predicting a V-shaped recovery and given the "jobs, jobs, jobs" mantra of President Obama himself -- the gap between the job figures expected and the disappointing economic realities generated may be politically consequential.
The problem is that the people are complacent to just sit around and talk about it and do nothing...When will we take it to the streets? When is enough enough??
How much higher will unemployment have to rise before that happens?? 20, 25, 30%?? We are almost at 20% and damn near on pace to see that 30% by 2010...Will you go stand in the voting booth and cast your vote for the same "duly elected" criminals we have now??
How much longer until you go to the supermarket and milk is 10 bucks a gallon and you have to decide between paying the electric bill or feeding your kids?? If things keep heading in the direction we are going now, that may soon be a reality...
How much longer do you think it will be before you simply cannot afford to drive to work?? When the majority of the working class commute an average of 25 minutes just to get to their respective jobs, which is about 20-25 miles, that is a really long bus ride and an even longer commute by foot or bicycle...
How much higher will inflation go before you are so pissed that we are engaging in mass protest outside the White House and Capitol demanding the heads of the congress go on the block, and subsequently whatever scapegoat the White House puts out there to get some answers?? They are masters of spin and will certainly find a way to spin it and give us the same mantra that has been spewed for years, "Everything is alright, we will get out of it, its just going to take some time..."
Great societies always come to their end...The Mayans and Incas did themselves in from the inside out even before Cortez could set foot on shore...The French revolted and dragged the statesmen into the streets where they were publicly murdered by the people...The Italians did it to Mussolini and his wife...Other countries coup and turn their government over whenever they dont like what is going on, seat someone else, write new rules and when the wheels begin to wobble, they tear it down and start over...We have been in this game for about 233 years and counting, when is enough, enough??
The states sold out to the feds years ago when they started taking YOUR money, now the feds own them...Federal dollars are worked into state budgets year after year when the states should be completely self sufficient and able to stand on their own...The constitution is written that way...Big business in America sold out when they started taking YOUR money from the feds and now, surprise, they own GM, Chrysler and most of the major banks and investment firms in the country...If you own it, you can manipulate it, right??
For the past 35 years, with the exception of a few bright shining moments, our government has literally given it to us raw. They have little by little stripped us of our rights and liberties. They have passed legislation and laws that continue to reap tyranny at home and abroad. We have started and gotten involved in wars that are either not our own nor can we finish...that alone is against what this country was founded upon when our founders were fighting their way away from an Empire. We have been taxed repeatedly higher and higher each year...increasing scandal and lawlessness, has led to the desensitization of the people, we are so used to it that we just dont care anymore...the apex of that being Clinton and his inability to control his "Little Bill"...Last, but most certainly not least, the day the Congress of this United States Of America voted themselves pay raises, vacations and eliminated the term limits set by their predecessors, is the day true democracy, this country, and the liberty of her people began to perish, until this day when the very breath of life threatens to escape the lips of a dying nation, the powers that sit in the now desecrated halls of Congress and The White House are driven mad with greed and drunk with power...so much so that they will do anything, I am convinced even to the point of selling their very souls to the great adversary, to get gain and live whatever pathetic existence they have left surrounded by this false and phony notion they have created...
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