Wed
Dec 30 2009
07:10 am
By: EricLykins

Brian A.'s picture

The best thing you can say

The best thing you can say about the job market is that fewer people are being fired.

Brian A.
I'd rather be cycling.

Andy Axel's picture

The graph doesn't show how

The graph doesn't show how many of those people have gotten their jobs back. U6 numbers are persistent and substantial.

(link...)

(Jan 2010: 6.3 million out of work >27 weeks; these represent 41% of the long-term unemployed.)

EricLykins's picture

U1-U6 for those unfamiliar w/ the shell game.

Thanks for bringing this up.

Political Heretic: Unemployment Numbers: A Social Worker’s Perspective
U6 would show unemployment rose to a record high 18% in January rather than the more commonly reported U3 number which shows 9.7%. U3 does not include:

*persons classified as "discouraged" of which there are a new 138,000 (and if those workers were counted it would cut the drop in unemployment registered by the household data effectively in half (50%)
*persons who need full time employment, want full time employment and are eligible to work full time who cannot find it (but are attached to some form of part time work)
*persons called "marginally attached" who need full time employment, want full time employment and are eligible for full time employment but who haven't filled out job applications every week or month.

If the public were presented an unemployment number that showed the national average at 16.5% or 18% (SA or NSA U6) - with regions of unemployment topping 20% - American people would have a much different attitude toward the responsibilities and actions of our elected representatives. I believe this would be true even if you carefully disclosed all the details of how those numbers are generated as social workers have an ethical obligation to do.

In public policy, half-hearted stimulus, half-hearted jobs bill proposals and full-hearted upward wealth-transfers to Wall Street might not be viewed with detachment, but rather with righteous indignation. People might be shaken out of either complacency (among the less hard hit upper middle class) or despair (among the ravaged poor and working class) and take to the streets.

It was this kind of popular awakening and outrage that pushed FDR to the left, away from his centrist and economically conservative political history. And it didn't happen from day one of his first term. He was pushed there by a combination of the terribly reality of the American situation and the active, engaged, outrage of a public that would settle for nothing less but structural revolution of our political and economic system.

EricLykins's picture

yas please, have some

One hundred eighty three projects in 43 states (Three in Tennessee) will create tens of thousands of high quality clean energy jobs and the domestic manufacturing of advanced clean energy technologies including solar, wind, and efficiency and energy management technologies.

EricLykins's picture

I like when "they" start listening

David Plouffe has a familiar looking update about all of that "porkulus" and just sent out an email with the subject line "Have you seen this?" Yes I believe I have, but thanks for the big fat update and finally spreading the word that Democrats are creating jobs, David.

One year in, the evidence is clear – and growing by the day – that the Recovery Act is working to cushion the greatest economic crisis since the Great Depression and lay a new foundation for economic growth.

* According to the nonpartisan Congressional Budget Office, the Recovery Act is already responsible for as many as 2.4 million jobs through the end of 2009
* As a result, job losses are a fraction of what they were a year ago, before the Recovery Act began

The American Recovery and Reinvestment Act:

* Cut taxes for 95 percent of working families through the Making Work Pay tax credit
* Cut taxes for small businesses
* Provided loans to over 42,000 small businesses
* Funded over 12,500 transportation construction projects nationwide, ranging from highway construction to airport improvement projects
* Made multi-billion dollar investments in innovation, science and technology that are laying the foundation for our 21st century economy
* Provided critical relief for state governments facing record budget shortfalls, including help to prevent cuts to Medicaid and creating or saving over 300,000 education jobs

Economists on the left and the right have stated that the Recovery Act has helped avert an even worse economic disaster.

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