The current US Labor Dept. national jobless rate is 8.1%. The ratio does NOT include workers that have QUIT looking for work and have fallen off the jobs radar. The workforce 'participation rate' is a better indicator of the problem. The participation rate is the percent of the overall labor workforce WORKING. That number is 61% and falling. A full 39% of the workforce is idle.
The weekly jobless claims and weekly jobs added are also being gamed as each week following the reported numbers are later 'adjusted' downward. Since Obama has been in office at least 8 million have lost their jobs, and wages have dropped about 11%. Over half of those graduating from college since Obama was sworn in are jobless.
The five states with the highest jobless rates continue to be: Puerto Rico 15.2%, Nevada 13.0%, California 11.2%, Rhode Island 11.0%, and Mississippi 10.4%. Find your state here.
Once the EU vaporizes, the US GDP will be driven down from its meager level of 2.2% and pressure on jobs and the economy will begin anew. Long term jobless benefits and the food stamp program are out of gas. The debt is so high now, that ANY new spending, even to prop up those in need will be unattainable.
The country and the Obama regime are holding their collective breath 'till the November election. And remember, we get to do the debt ceiling AND the Bush tax cuts all over again in December.
Related
What Bush Tax Cuts Expiring Mean To You
EU Going Bye Bye
