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.
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Here are 10 reasons we are in even more trouble than the 9.5% unemployment rate indicates:- June’s total assumed 185,000 people at work who probably were not. The government could not identify them; it made an assumption about trends. But many of the mythical jobs are in industries that have absolutely no job creation, e.g., finance. When the official numbers are adjusted over the next several months, June will look worse.
- More companies are asking employees to take unpaid leave. These people don’t count on the unemployment roll.
- No fewer than 1.4 million people wanted or were available for work in the last 12 months but were not counted. Why? Because they hadn’t searched for work in the four weeks preceding the survey.
There are seven more reasons. But why isn’t the stimulus helping?
How could this happen when Washington has thrown trillions of dollars into the pot, including the famous $787 billion in stimulus spending that was supposed to yield $1.50 in growth for every dollar spent? For a start, too much of the money went to transfer payments such as Medicaid, jobless benefits and the like that do nothing for jobs and growth. The spending that creates new jobs is new spending, particularly on infrastructure. It amounts to less than 10% of the stimulus package today.
Oh. I think I need a drink. Got a couple of bucks I could borrow?
20,
$1 USA =1.22 canada.
so,
$7.25 min USA wage is $8.83 can.
$11 canada dollar min wage is still $9 per hour in the USA.
“You can’t keep companies that want to leave. Unless, you want to go communist and shoot people trying to leave the country. All liberal/socialist countries start thinking this way as they destroy their business climate…”
Umm, and what happens when business LEAVES of its own accord.
this country has to have SOMETHING to trade. If we arent making it HERE, we arent making money.
# 21 ECA said, “$7.25 min USA wage is $8.83 can.”
Yes.
“Umm, and what happens when business LEAVES of its own accord.
this country has to have SOMETHING to trade. If we arent making it HERE, we arent making money.”
The country changes its attitude & practices towards business or it goes under. Pretty simple. Study what happened to the USSR… China changed, USSR fell because it didn’t…
The government blowing a lot of money with nothing to show for it. The government I have come to expect.
#8, Cow-Patty,
But O’Mama announced that the stimulus is working and the economy is getting better. I guess his plan to totally sink the economy is going as planned. Either that or he is lying.
Perhaps you could link to somewhere Obama said “the economy is getting better”.If you can’t, then I guess you are lying.
Pat,
if the USA corps were smart..
we would buy up ALL the goods from the Manufacture countries, and sell them to the rest of the world.
WE WOULD be the MAIN middle man and distributor.
THAT is what made the trade routes of the world, the RULERS of the world. control of TRADE.
Canada’s minimum wage is MUCH higher than that of the USA, as they also HAVE GOVERNMENT SUPPLIED HEALTH CARE. They do that in civilized and highly advanced societies.
#25 LOL.
Yes, we can station kour troops in Mesopotamia and take over the silk industry!