Author Topic: Actual Unemployment is 22 Says DailyFinance.com  (Read 1617 times)

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Offline RomanCatholic1953

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Actual Unemployment is 22 Says DailyFinance.com
« on: July 22, 2010, 06:14:52 PM »
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  • Actual unemployment is 22% says DailyFinance.com

    Over the past 55 years the Federal government keeps changing the definition of “unemployed” to keep the number down. An independent firm claims that 28% of all US households has at least one person looking for a job. This suggests that the rate of unemployed and underemployed individuals is 22%.

    From DailyFinance.com

        College Grads Serving Fries

        Plus, having a job today is quite different from what it was just a few years ago: Many Americans have had their hours cut and are working for less pay. A Pew Research survey found more than half of all adults in the labor force had either lost a job or suffered a reduction in income because of the recession.

        Ginsburg says the biggest source of undercounting comes from people who can’t find a full-time job that they’re qualified to do, for instance recent college graduates who take part-time jobs at fast-food joints or retail stores. Today, the Labor Department estimates that 8.6 million people are in this category.

        The federal government counts such people as employed. However, polls show that these folks actually consider themselves “unemployed” and “looking for a job,” and probably accounted for a large chunk of TechnoMetrica’s respondents.

        Jobless Workers Who Disappear

        Another major source of undercounting is the unemployed who’ve given up looking for jobs. The Bureau of Labor Statistics headline number counts as unemployed only people who have actively looked for a job in the previous four weeks. About 2.6 million people had pursued jobs in the past 12 months but, discouraged by the lack of opportunity, had stopped looking altogether.

        “Isn’t it interesting that if you stopped looking for a job, you evaporate as a jobless person and are just not counted,” says Gerald Celente, director of Trends Research Institute in Kingston, N.Y. Celente believes this kind of undercounting has suited the government politically. “It’s what government does: Downplay disasters and amplify success.”

        According to the Pew Research Center, a large number of people are out of jobs for a longer period during this economic downturn. The typical unemployed worker today has been out of work for nearly six months. That’s almost double the previous post-World War II peak for this measure, which was 12.3 weeks in 1982-83.

        Indeed, if all of the truly unemployed were counted, the rate would be significantly higher. The BLS, in a data point titled “U-6,” says it counted the total unemployment rate in June at 16.5%.


    Offline JoanScholastica

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    Actual Unemployment is 22 Says DailyFinance.com
    « Reply #1 on: July 22, 2010, 06:22:20 PM »
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  • It is indeed better to be self employed. Entrepreneurship is the key, but then again, it's not easy.


    Offline Trinity

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    Actual Unemployment is 22 Says DailyFinance.com
    « Reply #2 on: July 22, 2010, 06:27:24 PM »
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  • Did I understand this right?  Are they actually counting the jobless who don't draw an unemployment check?
    +RIP
    Please pray for the repose of her soul.

    Offline RomanCatholic1953

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    Offline RomanCatholic1953

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    Actual Unemployment is 22 Says DailyFinance.com
    « Reply #4 on: July 22, 2010, 07:09:48 PM »
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  • In my case, I been without a full time job since
    December 2008, and have exhausted all my
    unemployment benefits. I have to live with
    Family to survive.
    My working career spans from 1965 to 2008.
    A few times I been unemployed, and was able
    to fine work in less than 2 months.
    I was told when I was interviewed for a job at
    a clothing store near where I live, that they
    seldon have anyone over the age of 30
    applying for a job with that company.
    Also, I read a figure from a reliable source
    that for every job opening, there are now five
    applicants.


    Offline Trinity

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    Actual Unemployment is 22 Says DailyFinance.com
    « Reply #5 on: July 22, 2010, 07:23:40 PM »
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  • Here it is 100 applicants for every job.
    +RIP
    Please pray for the repose of her soul.

    Offline RomanCatholic1953

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    Actual Unemployment is 22 Says DailyFinance.com
    « Reply #6 on: July 22, 2010, 07:35:55 PM »
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  • Quote from: Trinity
    Here it is 100 applicants for every job.


    I bet that there are many just like me that ran out of
    unemployment insurance.

    Today, I meant a man in his 40's serving hamburger meals
    at a fast food restaurant. Last year he had a $100,000
    a year advanced IT job. He lost his house in foreclosure,
    and had to send his kids to live with relatives.

    Offline Trinity

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    Actual Unemployment is 22 Says DailyFinance.com
    « Reply #7 on: July 22, 2010, 07:43:03 PM »
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  • How very sad.  It has incensed me for years that they only count those on unemployment as unemployed.  And underemployment is just as bad.
    +RIP
    Please pray for the repose of her soul.


    Offline RomanCatholic1953

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    Actual Unemployment is 22 Says DailyFinance.com
    « Reply #8 on: July 24, 2010, 01:10:26 AM »
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  • How the US Economy is being destroyed:

    Video:

    http://www.brasschecktv.com/page/897.html

    Offline CathMomof7

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    Actual Unemployment is 22 Says DailyFinance.com
    « Reply #9 on: August 08, 2010, 04:19:06 PM »
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  • Quote
    Many Americans have had their hours cut and are working for less pay.


    We are in this category.  My husband's company began to cut back it's employees and his job was cut.  He was able to negotiate staying in his current job under another employer but his benefits and pay were cut. Considering that our health insurance premiums double, we actually lost about $500 per month.  

    Offline gladius_veritatis

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    Actual Unemployment is 22 Says DailyFinance.com
    « Reply #10 on: August 09, 2010, 02:24:19 AM »
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  • As you have seven chillins, I am glad you have $500 to lose...while many would like to have $500 at all.  Godspeed :)
    + Vincit veritas +


     

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