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October Job Gains Disappoint
Okay, so unemployment is now at 9.0% instead of 9.1%.
That may be a step in the right direction, but still way too slow over the past 12 months.
Besides, the government's official figure omits 11 million unemployed Americans who are craving a job, and these people were omitted from the count simply because they didn't look for work in the past four weeks to the degree the government accepts (yes, having an automatic search on Monster and the like doesn't qualify as "looking for a job").
Thus the real unemployment rate is still roughly a very painful 15%.
And, now that the holiday season is upon us, those who can still afford to buy during the holidays are essentially providing temp jobs at minimum wage to prepare for all the gift-buying, so do such minimum wage jobs really count?
My guess would be that those who lost their job and then eventually got a new job, a great majority of them took a major cut in pay.
The percentages are not enough.
The government needs to post job-to-job salary losses/gains to paint a more realistic picture.
Okay, so unemployment is now at 9.0% instead of 9.1%.
That may be a step in the right direction, but still way too slow over the past 12 months.
Besides, the government's official figure omits 11 million unemployed Americans who are craving a job, and these people were omitted from the count simply because they didn't look for work in the past four weeks to the degree the government accepts (yes, having an automatic search on Monster and the like doesn't qualify as "looking for a job").
Thus the real unemployment rate is still roughly a very painful 15%.
And, now that the holiday season is upon us, those who can still afford to buy during the holidays are essentially providing temp jobs at minimum wage to prepare for all the gift-buying, so do such minimum wage jobs really count?
My guess would be that those who lost their job and then eventually got a new job, a great majority of them took a major cut in pay.
The percentages are not enough.
The government needs to post job-to-job salary losses/gains to paint a more realistic picture.
