the monthly unemployment number is out: 9.1%
117000 jobs created, 154k in the private sector, govt shedding (9th straight month) 37k
but it's far, far worse
CNBC: Beneath Surface Lie Ugly Truths
1. the 117k doesn't keep up with population, we'd need at least twice that to get outta here anytime in our grandparents' lifetimes
2. the labor pool is 63.9%, lowest in 27 years
3. if the participation rate today were what it was in january of 2009, unemployment this morning would be 11.7
4. there are actually 38000 net FEWER americans working in july than in june
5. the fastest growth (14%) is in the "discouraged" group, those who've dropped out
6. the average seeker has been looking 40.4 months, a new record, double the figure for january, 09
7. there are 6.2 million americans out of work at least 6 months, 130% more than inauguration day
8. underemployment is 16.1
9. african american joblessness is 15.9, hispanic 11.3
10. only 58% of working age americans today are employed
Last edited by Kushinator; 08-05-11 at 12:27 PM.
It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
"Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911
today: Food stamp use rises to record 45.8 million - CNN
Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture.
The number of Americans using the government's Supplemental Nutrition Assistance Program (SNAP) -- more commonly referred to as food stamps -- shot to an all-time high of 45.8 million in May, the USDA reported. That's up 12% from a year ago, and 34% higher than two years ago.
To qualify for food stamps, an individual's income can't exceed $1,174 a month or $14,088 a year -- an amount that is 130% of the national poverty level.
The average food stamp benefit was $133.80 per person and $283.65 per household in May.
The ugly truths aren't quite as ugly as they may seem. A lot of people who have technically left the work force are people who have returned to school to seek training in areas with better employment prospects. Others have taken early retirement. Which is not to say that the situation isn't bad....
today: American incomes plummet by 15 percent in 2009 | The Lookout - Yahoo! News
average income fell 3500 dollars per year, according to "tax data analyzed by reuters"
Well, Arianna Huffington says so it must be true.....pfft!
Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.
Alexis de Tocqueville