Economic Disaster
Michael Snyder blogs the real unemployment rate at Washington's Blog -- that in 20 percent of American families, everyone in the family is unemployed:
According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working. So when someone tries to tell you that the unemployment rate in the United States is about 7 percent, you should just laugh. One-fifth of the families in the entire country do not have a single member with a job. That is absolutely astonishing. How can a family survive if nobody is making any money? Well, the answer to that question is actually quite easy. There is a reason why government dependence has reached epidemic levels in the United States. Without enough jobs, tens of millions of additional Americans have been forced to reach out to the government for help. At this point, if you can believe it, the number of Americans getting money or benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million.When I was growing up, it seemed like anyone that was willing to work hard could find a good paying job. But now that has all changed. At this point, 20 percent of all the families in the entire country do not have a single member that has a job. That includes fathers, mothers and children.
Awful and scary.
"We're from the government, and we're here to help you."
Yep, short-term assistance to counter unemployment problems that were created by the government.
The U.S. has now passed the critical milestone: Fewer than half of voting age adult pay net taxes to the federal government. More than half pay nothing or receive net benefits. Recipients of federal benefits, of course, have no interest in financial discipline.
The time of "bread and circuses" has begun.
a_random_guy at April 30, 2014 3:45 AM
But isn't he counting old, retired couples as American families? Neither of my parents work - they are in their 70s and retired.
That said, he's right that the 7% unemployment number is a total joke. It's like inflation - the government fiddles with how CPI is measured in order to understate inflation and make themselves look good. If we just measured inflation the same way we did in the 80's, it would be 8% and we'd all be complaining about our 8% inflation. Of course, then we'd want higher interest rates, and how would the government afford that, with $17+ trillion in debt?
Pirate Jo at April 30, 2014 6:15 AM
Don't buy it.
(I also don't buy the governments unemployment figures )
Ppen at April 30, 2014 7:43 AM
You know I'm all about cutting back the welfare state, but he is including not one but two numbers that are completely BS.
Stat 1: 20% of households aren't working. That included retirees. The report, on the first line, says 9% of households include an unemployed person. There is a difference unemployed and not employed.
Stat 2: There are 60 million more people getting government benefits than paying in. This is also garbage. That stat combines all welfare programs (many overlap) and includes anyone in a household where someone receives a benefit. So if you're living in a house with your brother who gets Medicaid, every single person in the house is "on welfare".
Again, social spending needs to be reigned in. But we're not going to reign it in by touting bogus stats like this.
Mike at April 30, 2014 8:29 AM
Pirate Jo, PPen and Mike: Those were my thoughts. It's gotten to the point where I cannot trust anything either side has to say about the unemployment situation or just about any other issue. I know the truth lies somewhere in between, but finding it takes more effort than most people are willing to invest.
Fayd at April 30, 2014 8:48 AM
http://www.bls.gov/webapps/legacy/cpsatab8.htm
But as I understand it we have the lowest amount of full time jobs since 1978.
Jim P. at April 30, 2014 10:32 AM
"Stat 1: 20% of households aren't working. That included retirees. "
However, from the government-spending standpoint, it doesn't matter... all unemployed are the same. Yes, retiree benefits are in the form of Social Security -- but SS is paid for out of current tax receipts and borrowing, exactly the same as every other government welfare program.
Cousin Dave at April 30, 2014 10:40 AM
As a reminder, I've got a background in statistics.
The comments on the difference between "unemployed" and "not employed" are legitimate in terms of US Bureau of Labor Statistics (BLS) jargon. When surveys are done, they are often looking for a precise piece of information. This sometimes (often?) leads to things that sound like normal English having technical meanings.
In surveying unemployment in the US, there are three possible categories: working, not working but looking for work, neither of the other two.
One reason unemployment can go down without ANY job creation is that people stop looking for work. Maybe they hit retirement age and start drawing down on savings/Social Security, maybe they just give up, but once they do, they are no longer "unemployed" as defined by the BLS.
There is another thing the unemployment misses - underemployment. If you work one hour a week, you are "employed" even if you are also looking for full-time work. That's why many say the "real unemployment" or "underemployment" is much higher.
Shannon M. Howell at May 1, 2014 5:36 AM
I don't understand.
The 1% are the job creators. Where are the jobs?
Gog_Magog_Carpet_Reclaimers at May 1, 2014 9:10 PM
"The 1% are the job creators. Where are the jobs?"
They're in Washington.
Cousin Dave at May 2, 2014 7:15 AM
Leave a comment