Here is a great summary of the current U.S. status of employment and unemployment:
Just How Distorted is the U.S. Unemployment Rate Number? - Mike Shedlock - Townhall Finance Conservative Columnists and Financial Commentary - Page 1
The highlights are basically as follows:
 The actual unemployment situation is much worse than the Unemployment figure that is currently published by BLS. (One can only speculate whether they are intentionally cooking the books for some political purpose it doesnt matter).
 Counting the people who have (involuntarily) dropped out of the labor force raises the rate to over 9%.
 Also not counted in the BLS Unemployment number are almost 8 million people who are working part time but want full-time work a number which is ON THE UPSWING as a result of the impending full implementation of Obamacare.
 Demographics do not explain the decline in workforce participation, as demonstrated by the fact that the civilian participation rate in ages 25-54 is also in decline, and has been for more than a decade.
 People who have not previously been in the labor force, but want a job and dont have one, are NOT counted as Unemployed by BLS; there are approximately 1.6 Million in this category. This includes recent college grads, among others.
 There are nearly 23 million Americans of working age who are not in the labor force due to disabilities. None of these people are Unemployed because they are not looking for work. Obviously, it is not practicable to determine how many of these people are fraudulently drawing disability checks, but the dramatic increase since 2008 points to significant fraud.
 If unemployed refers to people who want full time work, but cant find it (which is what most people think of when they hear the term), then the actual unemployment rate is about 15%.
Neither I nor anyone else knows how to tackle this problem. The eminent, award winning economist, Paul Krugman advocates MASSIVE government spending, using either borrowed or fiat money, claiming that the increase in public debt will have no significant negative impacts. One might consider under this scenario that to a person (or nation) in significant debt, inflation is your friend.
I do not blame Our Beloved President for this continuing, unacknowledged Recession, but I long for a time when we have an adult in the White House who has actually supported himself through gainful employment at some time in his or her life. It may not be a panacea, but it would make me more confortable.
I personally am working on doing my bit to solve the problem by shifting voluntarily to part-time status, although it might not help since no one will be hired to replace the half of me that retires. Oh, well.
Signed,
DGS49, f/k/a Dave/Mort
A Nattering Nabob of Negativism
P.S. Along the lines of Declare Victory, then Go Home, what if Our Beloved President embarked on a publicity campaign to encourage the Re-Birth of the Traditional Nuclear Family, in which one parent would voluntarily remain at home to nurture the children from the time of the birth of a couples first child until the graduation from High School of the youngest child? The economy has enough jobs to bring the unemployment rate down to the 4% (Full Employment) rate of yore, under that scenario. Many families would have to tighten their belts, but one might speculate that a lot of social problems would be dramatically improved with a parent in the home at all times.
P.P.S. I apologize for the lack of a working link above. I am a technological idjit.
Just How Distorted is the U.S. Unemployment Rate Number? - Mike Shedlock - Townhall Finance Conservative Columnists and Financial Commentary - Page 1
The highlights are basically as follows:
 The actual unemployment situation is much worse than the Unemployment figure that is currently published by BLS. (One can only speculate whether they are intentionally cooking the books for some political purpose it doesnt matter).
 Counting the people who have (involuntarily) dropped out of the labor force raises the rate to over 9%.
 Also not counted in the BLS Unemployment number are almost 8 million people who are working part time but want full-time work a number which is ON THE UPSWING as a result of the impending full implementation of Obamacare.
 Demographics do not explain the decline in workforce participation, as demonstrated by the fact that the civilian participation rate in ages 25-54 is also in decline, and has been for more than a decade.
 People who have not previously been in the labor force, but want a job and dont have one, are NOT counted as Unemployed by BLS; there are approximately 1.6 Million in this category. This includes recent college grads, among others.
 There are nearly 23 million Americans of working age who are not in the labor force due to disabilities. None of these people are Unemployed because they are not looking for work. Obviously, it is not practicable to determine how many of these people are fraudulently drawing disability checks, but the dramatic increase since 2008 points to significant fraud.
 If unemployed refers to people who want full time work, but cant find it (which is what most people think of when they hear the term), then the actual unemployment rate is about 15%.
Neither I nor anyone else knows how to tackle this problem. The eminent, award winning economist, Paul Krugman advocates MASSIVE government spending, using either borrowed or fiat money, claiming that the increase in public debt will have no significant negative impacts. One might consider under this scenario that to a person (or nation) in significant debt, inflation is your friend.
I do not blame Our Beloved President for this continuing, unacknowledged Recession, but I long for a time when we have an adult in the White House who has actually supported himself through gainful employment at some time in his or her life. It may not be a panacea, but it would make me more confortable.
I personally am working on doing my bit to solve the problem by shifting voluntarily to part-time status, although it might not help since no one will be hired to replace the half of me that retires. Oh, well.
Signed,
DGS49, f/k/a Dave/Mort
A Nattering Nabob of Negativism
P.S. Along the lines of Declare Victory, then Go Home, what if Our Beloved President embarked on a publicity campaign to encourage the Re-Birth of the Traditional Nuclear Family, in which one parent would voluntarily remain at home to nurture the children from the time of the birth of a couples first child until the graduation from High School of the youngest child? The economy has enough jobs to bring the unemployment rate down to the 4% (Full Employment) rate of yore, under that scenario. Many families would have to tighten their belts, but one might speculate that a lot of social problems would be dramatically improved with a parent in the home at all times.
P.P.S. I apologize for the lack of a working link above. I am a technological idjit.
