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Originally Posted by peter12
The US employment rate is an official 5.4% but experts estimate that if you include people who have given up looking for work or who have been forced to take minimal part-time work in the USA, then the number would rise to over 10.5%. There is no economic recovery in the US.
Following the bailouts of 2008, a new super elite of 0.1% earners was created. Everyone else suffered.
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Quote:
Originally Posted by Flash Walken
Correct, the rate of 'under employed' people in the US, basically anyone working less hours than they could/would like to, is over 11%.
That's a massive drag on a consumer economy.
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Originally Posted by oilyfan
"Gauzy" employment numbers? The methodology for calculating these numbers is the same as before the recession, and the trend is very good. Yes wage growth is a problem, but inflation is also well under control. You are trying find the cloud inside the silver lining, and you are welcome to, but it's not bourne out by the facts.
Oh, and the weekly jobless claims as a percentage of the working population is now at the lowest level in more than 50 years!
http://www.bloomberg.com/news/videos...-they-re-great |
I'll add a bit to this:
The Bureau of Labor Statistics appears to be calculating the unemployment numbers the same way before and after the crash.
Here's the report for March 2007: 4.4% unemployment rate, plus 1.4M people not looking for work.
Here's the report for July 2015: 5.3% unemployment rate, plus 1.9M people not looking for work.
Not saying the recovery has been complete, just saying the statistics do not appear to be being skewed to make the unemployment situation look better than reality.