While data and statistics don’t tell the whole story about our flailing economy and unemployment, but this chart created on Feb. 5, 2010 by the Bureau of Labor Statistics is pretty cool. Jobs are being created, even if slower than we’d like.
Unemployment Data Feb. 5, 2010 by Bureau of Labor Statistics
Herbert: Constraining America’s Brightest
My response to Bob Herbert’s column today about unemployed twenty-something college graduates is – “that sucks.” Now imagine what it’s like to be 55-years-old and out of work. That really sucks.
The financial eggheads who didn’t see the economic disaster looming over the horizon back in 2006 are now telling us that the recession is over, but they’re wrong.
The recession is over when we say it’s over, and clearly we’re still very much recessed, unless of course you work for Goldman Sachs – then you’d probably think the Gilded Age is back again. But for the rest of us, times are tough.
J.P. Morgan posts $3.6 billion profit despite loan defaults
Even while unemployment continues to climb, bailed out companies like J.P. Morgan are still making money. Last quarter, J.P. Morgan made $3.6 billion despite having to write off credit card and mortgage losses. At least someone’s making money, right?
HuffPost has an AP story about J.P. Morgan’s profit-making magic
BusinessWeek: The Lost Generation
Bright, eager—and unwanted. While unemployment is ravaging just about every part of the global workforce, the most enduring harm is being done to young people who can’t grab onto the first rung of the career ladder.
The slow slog to a real depression continues
The recession isn’t over, and there’s more evidence that we’re crawling towards another depression. Unemployment continues to increase. Conservative estimates peg unemployment at 9.8 percent and under-employment at 17 percent. The one sector of the economy seeing growth is finance, which has benefited from the taxpayer bailout, while regular folks struggle to make ends meet.
Sooner or later a movement of the people will push back against our rigged so-called “free market” overtly pro-wealthy government agenda. The question is will it happen next year or the year after, but something will have to be done to help real people and not just line the pockets of the Elite. What will the government do to stop it? They can’t trick us into voting because we all have that. Will the government create new social programs to alleviate the financial pain the middle class is feeling? I doubt it. Perhaps a real revolution will not be stopped this time.
The New York Times reported today: “Job seekers now outnumber openings six to one, the worst ratio since the government began tracking open positions in 2000. According to the Labor Department’s latest numbers, from July, only 2.4 million full-time permanent jobs were open, with 14.5 million people officially unemployed.”
