Most Popular Choices
Share on Facebook 19 Printer Friendly Page More Sharing
OpEdNews Op Eds   

According to Broader Unemployment Figures 17% of Americans are Jobless--and soon even higher

By       (Page 1 of 2 pages)   No comments
Follow Me on Twitter     Message Kevin Anthony Stoda
Become a Fan
  (9 fans)

According to Broader Unemployment Figures 17% of Americans are Jobless

By Kevin Anthony Stoda

According to early reports this October, "The government's broader measure [of unemployment], known as the 'U-6' for its data classification, hit 17% in September, 0.2 percentage points higher than August.

http://blogs.wsj.com/economics/2009/10/02/broader-unemployment-rate-hits-17-in-september/

According to the Wall Street Journal report on September statistics in the USA, "Most forecasters expect the official unemployment rate to top 10% by the end of this year, and the broader rate could easily top 18%. For people in this group, comparisons to the Great Depression (when 25% of Americans were out of work) may not look so wild even if overall economic activity is holding up better.

One critique of the Wall Street Journal article wrote as follows, If you add the long term unemployed and many people who are just unreachable for polling, the Bureau of Labor Statistical methods has it's limits and constraints. Real unemployment is easily in the neighborhood of 20%. The economy moves on but many in the US population have been locked out of work and prosperity. This is the major marker or characteristic of the 1929 Depression (1929-1945).

I am not nearly that pessimistic.

I do, however, firmly believe that this current depression (recession if you will) is already worse than the one faced in the early Reagan era "1981 to 1984. In those years, it was hard for college-student-aged and high-school-aged persons in the USA to find work, too, but not as difficult as it was in the summer of 2009. (I was one of those students in the 1980s who was affected in my job searches but I found seasonal work. From what I see now, it is even harder to even come up with seasonal part-time work according to USA summer jobless rates among young peoples.)

Next Page  1  |  2

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Rate It | View Ratings

Kevin Anthony Stoda Social Media Pages: Facebook Page       Twitter Page       Linked In Page       Instagram page url on login Profile not filled in

KEVIN STODA-has been blessed to have either traveled in or worked in nearly 100 countries on five continents over the past two and a half decades.--He sees himself as a peace educator and have been-- a promoter of good economic and social development--making-him an enemy of my homelands humongous DEFENSE SPENDING and its focus on using weapons to try and solve global (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines

 
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

BED-INs and Other Protests Needed Now

Why have German-, Italian- and Latin American Internment during WWII been kept out of the USA History books?

GULF CIVIL SOCIETY FORUM calls for Gulf Monarchies to abandon absolutism and to adopt European-style Parliaments

TRIBE, TRIBALISM AND CULTURAL CHANGE-KUWAIT 2008

A WORLD OF PRETENDERS: Partial Review of the Filipino Novel, THE PRETENDERS by F. Sionil Jose

PHILIPP ROESLER, of Vietnamese Descent. to Head the Health Ministry in Germany, as his own Party Plans to Push for more

To View Comments or Join the Conversation:

Tell A Friend