Its Far Far Worse than You are being Told

The government lackeys and hacks told everyone on Friday 5 December the unemployment rate for November had risen to 6.7 %. This is dreadfully incorrect and does not come close to telling the full picture. If one factors in all those working only parttime because they cannot get fulltime work; those who have simply given up looking for work; and those that are underemployed because work is not available that is worthy of their education or intelligence; the actual rate is somewhere between 14 and 18 %. The best indicator of healthy employment shows only a little more than 61 % of the adult population between the ages of 18 and 65 are working fulltime.

The truly frightening thing is that we are only in the beginnings of the employment slide. The numbers for unemployment are going to increase by at least 50 % by Spring 2009 and the true rate is likely to be near 25 - 30 % within six to eight months. The incoming Obama administration has put together the framework for an employment stimulus plan, but it is only a proposal and is strongly subject to the whims and greed of Congress.

Without question, the citizens of the nation are in the midst of the worst economic downturn since the late 1930s, as the current collapse has clearly surpassed the ones in the early 80s and mid 70s. Federal programs are needed quickly, as other troublesome areas of the economy only continue to worse rapidly.

http://www.nytimes.com/2008/12/06/business/economy/06idle.html?_r=1&ref=todayspaper

http://krugman.blogs.nytimes.com/2008/12/06/terrible-employment-numbers/

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