Employment Is Worse Than You Think
By Daniel at 14 July, 2009, 5:00 pm
* 185,000 workers in the June number were the product of statistical sampling, but could not be verified by the government.
* Companies are asking employees to take unpaid leave / vacation time select days.
* 1.4 million unemployed workers weren’t counted because they’re not searching for work.
* Part-time employment has doubled to 9 million.
* The work week is 48 minutes shorter than when the recession began.
* The number of long-term unemployed (4.4 million) is at an all-time high.
* There were no wage gains in June.
* The goods-producing sector lost over 223,000 jobs just in June.
* When business picks up, businesses will just add hours to existing workers, rather than create new jobs.
* Old business lines are being eliminated entirely, not shrunk down, decreasing the odds that the unemployed will be able to find work.
Says Zuck: It’s time for a serious second stimulus — not a hodge podge of pork and transfer payments, but a truly big and bold infrastructure program (like what we were promised the first time, but which didn’t happen) to put people to work.
And we are sending jobs to China as fast as we can so we can have more Cheap Chinese C r a p. Just look at all the money we saved by importing radioactive drywall and radioactive cheese graters from China. And Obama wants cap and trade unilaterally, which will send even more jobs to China.
The recent unemployment numbers have undermined confidence that we might be nearing the bottom of the recession. What we can see on the surface is disconcerting enough, but the inside numbers are just as bad.
The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000, which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all job growth from the previous expansion.
Prophecy
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