Real, Uglier American Unemployment

[statusquobuster]

Real, Uglier American Unemployment

Joel S. Hirschhorn

Can you trust national averages? As bad as the jobless data you hear are, you have not been told the whole truth. If you think the terrible impact of America’s Great Recession is shown by an official unemployment rate of about 10 percent, think again.

Economic inequality and the myth of Reagan trickle down logic are shown by new data from the Center for Labor Market Studies at Northeastern University in Boston. The report noted: “What has been missing from the public debate over the labor market crisis is an honest and detailed analysis of which American workers have been most adversely affected by the deep deterioration in labor markets.” The researchers found a correlation between household income and unemployment rate in the last quarter of 2009: Look carefully at these numbers and see how unemployment rises as income drops:

$150,000 or more, 3.2 percent
$100,000 to 149,999, 8 percent
$75,000 to $99,999, 5 percent
$60,000 to $75,000, 6.4 percent
$50,000 to $59,000, 7.8 percent
$40,000 to $49,000, 9 percent
$30,000 to $39,999, 12.2 percent
$20,000 to $29,999, 19.7 percent
$12,500 to $20,000, 19.1 percent
$12,499 or less, 30.8 percent

Ten times worse unemployment in the lowest class than in the highest class! Truly amazing and disheartening, don’t you think? And you can also infer that in some hard hit geographical areas the poorest people and people of color are being even more adversely impacted. And don’t think for a minute that things have really improved in 2010.

Remainder of piece HERE.

Edited to comply with board policy concerning copyright and fair use, to be found HERE.

~Dude

 

[kyzr]

......How can jobs be created for the lower economic classes? You hear very, very few new ideas from politicians. It comes down to federal spending that better targets job creation to the lower income groups, and waiting for more general consumer spending, especially by the more affluent, to create more low level jobs, mostly in service areas. But we need specifics and better legislation.

Consider this green energy fiasco. A huge amount of federal stimulus money provided for building wind farms. It is creating jobs in Chine to build wind turbines, not in America. In fact, 80 percent of such federal funding is going overseas. All because Congress and the White House did not ensure a made-in-America requirement. Was a backroom deal made to keep China happy so that they would keep loaning us money?

When the poorest people suffer so disproportionately as compared to the wealthiest, perhaps only violent revolution will fix America’s dysfunctional, broken and delusional democracy. Will President Obama cite the above frightening data in any public forum to make the case for stronger federal efforts? What do you think?

The high numbers for the lower income people mean that no amount of government action, in even five years or more, will solve jobless problem, because no amount of economic growth can possibly create enough new jobs. The US would have to produce 10 million new jobs just to get back to the unemployment levels of 2007 - impossible for many years. So, politicians will keep making things look better by citing the national average.

[Contact Joel S. Hirschhorn through delusionaldemocracy.com.]

Totally agree with the position of this article. However, the causes for the demise of the lower income levels seems to me to be the political practice of granting tax breaks to relocate jobs and factories overseas. Most low-income people would typically be employed in factories.
Enter unions and wage rates and strikes, and many of the upper crust would rather move factories overseas than deal with the local riff-raff. After decades of buying pols, and moving factories overseas, now China has all the wealth creating mechanisms and the US is left with a "service economy".

Don't blame Reagan for the "service economy hoax". It was a bi-partisan scheme over many decades. Factor in the mis-use of SS and Medicare funds and its over.

 

[ItHappens]

This is stupid.
What pay scales do you think make the decisions?
Of course there is going to be a lower unemployment rate among the administrative class.
Less sales of a product equals less production of the product. The production staff then would be the first let go.
You can debate the ethics of that all day long but it's the reality.

 

[beowolfe]

Real, Uglier American Unemployment

Joel S. Hirschhorn

Can you trust national averages? As bad as the jobless data you hear are, you have not been told the whole truth. If you think the terrible impact of America’s Great Recession is shown by an official unemployment rate of about 10 percent, think again.

Economic inequality and the myth of Reagan trickle down logic are shown by new data from the Center for Labor Market Studies at Northeastern University in Boston. The report noted: “What has been missing from the public debate over the labor market crisis is an honest and detailed analysis of which American workers have been most adversely affected by the deep deterioration in labor markets.” The researchers found a correlation between household income and unemployment rate in the last quarter of 2009: Look carefully at these numbers and see how unemployment rises as income drops:

$150,000 or more, 3.2 percent
$100,000 to 149,999, 8 percent
$75,000 to $99,999, 5 percent
$60,000 to $75,000, 6.4 percent
$50,000 to $59,000, 7.8 percent
$40,000 to $49,000, 9 percent
$30,000 to $39,999, 12.2 percent
$20,000 to $29,999, 19.7 percent
$12,500 to $20,000, 19.1 percent
$12,499 or less, 30.8 percent

Ten times worse unemployment in the lowest class than in the highest class! Truly amazing and disheartening, don’t you think? And you can also infer that in some hard hit geographical areas the poorest people and people of color are being even more adversely impacted. And don’t think for a minute that things have really improved in 2010.

Remainder of piece HERE.

Edited to comply with board policy concerning copyright and fair use, to be found HERE.

~Dude

You must be 20 something years old, right?

 

[Mr.Fitnah]

Well on the bright side, the low wage earners are probable not drawing unemployment benefits the probably got fire for doing something stupid and got kicked of the job.
They wont show up on the jobs lost tally either making the President look especially presidential .

 

[Polk]

Is household income really the relevant variable? It would make sense that low household income would be connected to unemployment (no job means no income).

 

[sealybobo]

Real, Uglier American Unemployment

Joel S. Hirschhorn

Can you trust national averages? As bad as the jobless data you hear are, you have not been told the whole truth. If you think the terrible impact of America’s Great Recession is shown by an official unemployment rate of about 10 percent, think again.

Economic inequality and the myth of Reagan trickle down logic are shown by new data from the Center for Labor Market Studies at Northeastern University in Boston. The report noted: “What has been missing from the public debate over the labor market crisis is an honest and detailed analysis of which American workers have been most adversely affected by the deep deterioration in labor markets.” The researchers found a correlation between household income and unemployment rate in the last quarter of 2009: Look carefully at these numbers and see how unemployment rises as income drops:

$150,000 or more, 3.2 percent
$100,000 to 149,999, 8 percent
$75,000 to $99,999, 5 percent
$60,000 to $75,000, 6.4 percent
$50,000 to $59,000, 7.8 percent
$40,000 to $49,000, 9 percent
$30,000 to $39,999, 12.2 percent
$20,000 to $29,999, 19.7 percent
$12,500 to $20,000, 19.1 percent
$12,499 or less, 30.8 percent

Ten times worse unemployment in the lowest class than in the highest class! Truly amazing and disheartening, don’t you think? And you can also infer that in some hard hit geographical areas the poorest people and people of color are being even more adversely impacted. And don’t think for a minute that things have really improved in 2010.

Remainder of piece HERE.

Edited to comply with board policy concerning copyright and fair use, to be found HERE.

~Dude

What is it now?

Michigan is bragging now that our unemployment rate is under 4%. Is that true NOW?

 

[Godboy]

Real, Uglier American Unemployment

Joel S. Hirschhorn

Can you trust national averages? As bad as the jobless data you hear are, you have not been told the whole truth. If you think the terrible impact of America’s Great Recession is shown by an official unemployment rate of about 10 percent, think again.

Economic inequality and the myth of Reagan trickle down logic are shown by new data from the Center for Labor Market Studies at Northeastern University in Boston. The report noted: “What has been missing from the public debate over the labor market crisis is an honest and detailed analysis of which American workers have been most adversely affected by the deep deterioration in labor markets.” The researchers found a correlation between household income and unemployment rate in the last quarter of 2009: Look carefully at these numbers and see how unemployment rises as income drops:

$150,000 or more, 3.2 percent
$100,000 to 149,999, 8 percent
$75,000 to $99,999, 5 percent
$60,000 to $75,000, 6.4 percent
$50,000 to $59,000, 7.8 percent
$40,000 to $49,000, 9 percent
$30,000 to $39,999, 12.2 percent
$20,000 to $29,999, 19.7 percent
$12,500 to $20,000, 19.1 percent
$12,499 or less, 30.8 percent

Ten times worse unemployment in the lowest class than in the highest class! Truly amazing and disheartening, don’t you think? And you can also infer that in some hard hit geographical areas the poorest people and people of color are being even more adversely impacted. And don’t think for a minute that things have really improved in 2010.

Remainder of piece HERE.

Edited to comply with board policy concerning copyright and fair use, to be found HERE.

~Dude

Let me fill you in on a little secret... Havard graduates tend to be desirable employees. It should come to no surprise that they are easily employed, unless youre a complete fucking retard.