The real unemployment numbers!

Posted on 09. Nov, 2009 by scott in economic daydreaming

Friday unemployment numbers for October were released. Politicians, media ‘experts’ and economists thought they were acceptable considering existing conditions. For me they represent circumstances that are far worse than public figures are willing to admit.

Here is the reality:

Factories closed. Warehouses shut down. Homes in foreclosure. And more.

Unemployment at 10.2%. That means nearly 16 million Americans are unemployed (the highest in history). Add to that those who have quit looking or have taken part-time or low paying jobs and the percentage soars to 17.5 and climbing. A total of 190,000 jobs were lost in the past month. Imagine the entire population of a medium sized city losing their jobs in one month. Imagine the entire population of sixteen of our smaller states without work.

Consider that we have now had 22 straight weeks of employment decline in our wonderful United States of America. The longest streak of loses in 70 years! Ah, but who seems to be counting?

Consider that 7.3 million of our fellow citizens (and probably several that you know quite well) have lost their jobs since December of 2007 when this recession started. I can think of ten myself without straining. Ah, but who seems to notice?

Consider that the average workweek is only about 33 hours and that average hourly earnings are only $18.72 (including of course the many bankers, investment managers and politicians who have become rich while the real work force strangled on their greed and self-interest). Ah, but who seems to care?

If you do not have a good friend who has lost their job in the last two years then you are an exception — an exception that likely means your own head is dangerously near the chopping block.

This is frightening stuff.

And yet congress works the weekend to pass a deficit numbing health care bill. Our President makes the extraordinary Saturday visit to congress to push his agenda. The like of Microsoft, Eli Lily and Boeing announce layoffs of thousands more people.

When will it end?

The stock markets hit new 2009 highs earlier today, oil is trading at around $80 per barrel, interest rates are so low that saving any money is worse than going to Las Vegas for the weekend with our your available cash.

When will it end?

The President talks with congress, congress talks with each other and nearly one out of five Americans are under- or unemployed. Two people on my street have lost their jobs already this year. What about looking around your own street?

The real unemployment numbers? Yeah, they are horrible and include people we all know.

Families are in danger of losing their homes. Mortgage failures have not peaked — not by a long shot with this kind of continuing unemployment.

I get tired of writing about it.

But . . .

Our leaders are not leading. They debate with no purpose, they argue for the sake of argument, they blabber on TV just to get a few more votes, they get sick and benefit from the best medical-care available at little or no cost, they vacation and travel on taxpayer $$, they sleep soundly at night, they . . . just . . . don’t . . . seem . . . to care! They talk but they don’t act.

Call, write, email or fax. Join the growing number of Americans that are angry about inaction or misguided action. Vote out ALL incumbents and press new electees for term limits.

You think this is a joke?

Wait until next year when the economy falls off another cliff because there have been no real fixes for the biggest problem of all — unemployment.

Jobs, jobs, jobs . . . when will they get it!

thanks to flickr’s shoes on wires for the photo

Tags: congress, President Obama, real costs of unemployment, unemployment