The Real Unemployment Rate is More Like 17%
April 3, 2009 at 4:37 PM Leave a comment
We keep hearing numbers in the 5 and 6 hundred thousand when it comes to lost jobs and though those numbers have been huge for what seems like a long time now, we rarely stop and add them up, week over week or month over month. So think about this: 2 million people have lost their jobs this year alone.
Officially, the unemployment rate now stands at 8.5%. But, if you include the people who aren’t counted in the job loss numbers – the people who have left the labor force entirely or who are working part-time but want to work full time – the rate is more like 17%.
And the banks who we’re bailing out with our tax dollars aren’t doing anything to help the situation: Foreign Workers Could be Replacing Charlotte N.C. Bank Employees. Which could lead to more of this: At least 13 people killed at NY immigration center (though we’re still learning the details behind the gunman’s motives in this case).
Entry filed under: Financial Crisis, We the People. Tags: .
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