On 4/26/2015 11:04 AM, Oliver Douglas wrote:
On 04/26/2015 10:14 AM, trader_4 wrote:
So, now we wait for our fair minded Democrat friend to explain
what exactly was so bad......
http://en.wikipedia.org/wiki/Misery_...28economics%29
http://en.wikipedia.org/wiki/Misery_index_(economics)
Don't worry. Only 30 million unemployed and quit looking
for work. Lets see. 30 mil out of 300 mil..... that's
about ten percent, if I figure?
(article edited for length)
..
by Jim Clifton
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Here's something that many Americans don't know:
The official unemployment rate, as reported by
the U.S. Department of Labor, is extremely mis-
leading.
White House and Wall Street about how unemployment
is "down" to 5.6%. White House wants to score
political points and Wall Street would like you
to stay in the market.
None of them will tell you this: If you ... given up
on finding a job the Department of Labor doesn't
count you as unemployed. That's right. you are not
counted in the figure we see in the news -- currently
5.6%. Right now, as many as 30 million Americans are
either out of work or severely underemployed.
Say you're an out-of-work engineer or healthcare
worker: If you perform a minimum of one hour of
work in a week and are paid at least $20 -- maybe
someone pays you to mow their lawn -- you're not
officially counted as unemployed.
If you are working 10 hours part time because
it is all you can find -- in other words, you
are severely underemployed -- the government
doesn't count you in the 5.6%.
The official unemployment rate, amounts to a Big Lie.
A good job is an individual's primary identity, their
very self-worth, their dignity -- it establishes the
relationship they have with their friends, community
and country. When we fail to deliver a good job that
fits a citizen's talents, training and experience, we
are failing the great American dream.
Right now, the US is delivering at a staggeringly
low rate of 44%, which is the number of full-time
jobs as a percent of the adult population. We need
that to be 50% and a bare minimum of 10 million
new, good jobs to replenish America's middle class.
Jim Clifton is Chairman and CEO at Gallup.