October 20th, 2009

free man, not a number, prisoner, number six, pennyfarthing

Jobquest: Oh, so it's NOT just me.

(There should be an embedded graph, above. If you don't see it, here's a link. If you do, please let me know in the comments, because it's not showing up in either FireFox or Epiphany.)

But wait, it gets worse:

According to official statistics, the unemployment rate in the United States is now 9.8 percent. But those statistics understate the severity of the jobs crisis. The official statistics do not include the 875,000 Americans who have given up looking for work, even though they want jobs. When these "marginally attached" workers and part-time workers are added to the officially unemployed, the result, according to another, broader governement measure of unemployment known as "U-6," is shocking. The United States has an unemployment rate of 17 percent.

And even this may understate the depth of the problem. By adding the 3.4 million Americans who want a job but have not looked for one in over a year, businessman, philanthropist and Obama advisor Leo Hindery Jr. infers an actual unemployment rate of 18.8 percent. In other words, nearly one in five Americans is unemployed or underemployed.

I know, this isn't really news. A lot of people have mentioned the current economic situation in comments on my recent Jobquest! posts.* I'm just posting it here for future reference.

*Please note: this is not "reassuring", thank you very much; it just adds to the stress.