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Why savers are getting screwed

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"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

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"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

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Will we see double digit interest rates from the 1980s?

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Greenspan: credit crunch “by far the greatest financial crisis”

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Content By: The Coming Depression Editorial Staff (dates cited below)
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unemployment line
Measuring unemployment is an art which can lead to highly variable rates. Unsurprisingly, the U.S. government uses a method that excludes millions of Americans who seek employment. The lower rate is often used to prove that the American economic system is superior to those in Europe where their unemployment rates are attributable to unions and socialism, which guarantee workers health care and paid vacations. The implication is that while many American workers lack such benefits, at least they have jobs. This argument is wrong because unemployment is measured differently.

23 states report higher unemployment in September
Oct 21 12:31 PM US/Eastern By CHRISTOPHER S. RUGABER AP Economics Writer

WASHINGTON (AP) – Unemployment rose in 23 states last month as the economy struggled to create jobs in the early stages of the recovery.

unemployment map cnn

While layoffs have slowed, companies remain reluctant to hire. Forty-three states reported job losses in September, while only seven gained jobs, the Labor Department said Wednesday.

Some of the states that lost jobs still saw their unemployment rates decline, as discouraged workers gave up looking for work. People who are out of work but no longer looking for jobs aren’t counted as officially unemployed.


Comments

Discouraged workers are persons not currently working or looking for work but indicate that they want and are available for work and have sought work in the recent past. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not being currently employed. Persons employed part time for economic reasons are those who want and are available to work full time but had to settle for a part-time schedule. This is all part of government propaganda and double speak to show that they are seeking work but not seeking work and have sought work in the recent past. Consequently, those people who want to work are not counted as unemployed.


Original article continued

Michigan reported the nation’s highest unemployment rate at 15.3 percent. It was followed by Nevada at 13.3 percent, Rhode Island at 13 percent, California at 12.2 percent and South Carolina at 11.6 percent.

Real estate continues to bedevil states that enjoyed a housing boom. Florida’s jobless rate rose to 11 percent from 10.8 percent in August, as the state lost nearly 13,000 construction jobs. California lost 39,300 jobs, including more than 14,000 in construction. Nevada lost 3,500 construction jobs, though it boosted employment in services.

Original story appears on Yahoo News

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This entry was posted on Wednesday, October 21st, 2009 at 2:00 pm and is filed under Main Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 Comment

  1. April 15, 2010 @ 11:13 pm


    Even with this additional analysis the numbers are very wrong, esp for Michigan. These figures do NOT include the massive loss of population in that state, but count only people who remained. It also does not take into account the many villages and towns that have closed outright. Thanks to DHS, border blockages have created an $8 billion loss to the state in trade with Canada, and all the many small businesses that depended on that trade to remain operational. The catastrophic drop in tourism has meant huge numbers of small business closings throughout outlying areas of the state. As you can see, the figures above do not include small business owners and the self-employed who don’t even qualify for unemployment benefits. All told, among the remaining population, unemployment exceeds 50%, because the many retirees living on pensions and social security have been padding the ‘employed’ citizen numbers. The unbelievable blindness of the politicians to the state of this state has meant that, instead of cutting government down to size, they have instead increased costs, fees and taxes on the few citizens who struggle to remain in their home state.

    Posted by Margaret

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