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Thread: The rising tide of unemployment in America

  1. #1

    The rising tide of unemployment in America

    Unemployment is disastrous on both the individual and societal level.
    Individuals who look for work but can't find it are miserable.[1]
    On the national level, high unemployment is both cause and effect concerning other problems with the economy. As we'll see below, high unemployment results from a weak economy and - in turn - weakens the economy.
    Until the causes of, and solutions to, high levels of unemployment are understood, we will not be able to solve the problem.
    How High is Unemployment?
    Before we can even start looking at causes or solutions, we have to understand what the current level of unemployment really is, and what the trends portend for the future.
    Let's use America as an example. With the largest economy in the world, it has often been said that "when America sneezes, the rest of the world catches cold". And much of the rest of the world has adopted the "Washington Consensus" - America's neoliberal view of economics.[2] Moreover, the rest of the world has been infected by many types of "toxic assets" invented in America, such as credit default swap derivatives[3], as well as Wall Street style banking strategies. So I will use the United States has a case example, but will also touch on global trends.

    Official figures put unemployment in the United States somewhere between 9 and 10 percent. But the official figures use a very different measure for unemployment than was used during the Great Depression and for many decades afterwards.
    You should read the entire article: Washington's Blog

    Pretty bad picture of unemployment when some mass media claim otherwise.
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  2. #2
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    The unemployment picture should improve due to the inflationary spending of the US Government. The situation is somewhat similar to the 1973-75 recession. At the time, the monetary supply was increased 112%. By 1979, the unemployment rate had dropped to 5.6%. However, the US soon fell in into a far worse double dip recession in 1980 & 81-82 after the interest rates were raised to 20%+

    Companies have a lot of money on reserve. It's estimated that businesses have $1.6 trillion in savings and most people are saving as well. As soon as people start to get confidence, there will be too much money chasing too few goods and services. This is not to speak that the US federal deficit is running at $1.6 trillion a year.

    On the downside, 40% of manufacturing jobs that have been lost will not return.

  3. #3
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    People in the US don't want to work. Before you may have made $600 for 40 hours work. Now you may have to work 60 hours to get the same $600.

    There's jobs out there or there wouldn't be people trying to cross the border illegally to find work in the US. But hey, why work? The government will give you 99 weeks unemployment and food stamps on top of that.

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    Quote Originally Posted by johnkalli1990 View Post
    Most probably something is better than nothing...!!
    A family of four making less than $2369 a month qualifies for food stamps which is public assistance to purchase food.

    Something is out of whack when someone making $600 a week qualifies for public assistance and at the same time has the money to buy an iphone and pay hundreds a month for a cell phone, cable TV and high speed internet connection.

  5. #5
    There seems to be a lot of American people showing off their wealth such as celebrity cribs, in music videos, Trump etc. Then their are many PayPerClick guys seemingly making huge incomes in their 20's or younger marketing CPA offers.

    So I don't see many young people wanting to do regular work unless they have to.

    People with debts that they can't pay will suffer most. In particular, people of retirement age.

  6. #6
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    Once the census ends, there's going to be another 500k people unemployed and the Gulf oil spill could add another 1.2 million unemployed.

    The 14% unemployment rate in Nevada has just passed Michigan.

    Quote Originally Posted by Andy101 View Post
    There seems to be a lot of American people showing off their wealth such as celebrity cribs, in music videos, Trump etc. Then their are many PayPerClick guys seemingly making huge incomes in their 20's or younger marketing CPA offers.
    There's plenty of money. The US deficit spending over the last two years amounts to approx. $3.6 trillion dollars.

    Quote Originally Posted by Andy101 View Post
    So I don't see many young people wanting to do regular work unless they have to.
    There's a lot competition of competition for jobs with both illegal and legal immigrants. The average person can't afford to work for $200 a week. But the illegal alien can do it; because, the government subsidizes his family with welfare payments including healthcare, food stamps, housing and earned income which is a tax refund up to 5k even for pay that haven't paid taxes.

    Nothing against the illegals. The issues is that with over 1.5 million legal immigrants and another million a year illegal immigrant, there just isn't the money to provide the liberal social benefits and at the same time to pay Americans not to work.

    Quote Originally Posted by Andy101 View Post
    People with debts that they can't pay will suffer most. In particular, people of retirement age.
    Once inflation starts people with fixed debts like mortgages will make out like fat rats.

    The retirement people with suffer the most as inflation eats into their savings and pensions.

  7. #7
    Quote Originally Posted by bogart View Post
    People in the US don't want to work. Before you may have made $600 for 40 hours work. Now you may have to work 60 hours to get the same $600.

    There's jobs out there or there wouldn't be people trying to cross the border illegally to find work in the US. But hey, why work? The government will give you 99 weeks unemployment and food stamps on top of that.
    I have a different opinion than yours Bogart

    When there is 3000 applications for a single job offer in Nevada, I don't think people don't want to work. Sure some people don't want to work, but I don't think that represent a huge number.

    What is the best solution? Paying this people or risking that some wil fall in criminality, bankruptcy, or no bill payments.

    It will cost money to the society one way or another unfortunately.
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


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    Quote Originally Posted by Natural Elements View Post
    I have a different opinion than yours Bogart

    When there is 3000 applications for a single job offer in Nevada, I don't think people don't want to work. Sure some people don't want to work, but I don't think that represent a huge number.

    What is the best solution? Paying this people or risking that some wil fall in criminality, bankruptcy, or no bill payments.

    It will cost money to the society one way or another unfortunately.
    The big issue is that it's impossible to continue sending people unemployments checks forever. A lot of the lost jobs in construction and the mortgage industry aren't coming back. Fannie Mae and Freddie Mac have been de-listed from the stock exchange and are now worth $600,000 and $500,000 respectively.

    America is living above its means and it's going to hit a wall. The US Government is spending $2 for each $1 it receives in taxes.

    I think that the issue is that sure people wants jobs. But they don't want to work.

    Immigrant farm workers' challenge: Take our jobs
    http://news.yahoo.com/s/ap/20100624/ap_on_en_tv/us_immigration_take_our_jobs;_ylt=An8EUt5Zf0aZ773z dNkVZG.s0NUE;_ylu=X3oDMTJwdHBpM2VnBGFzc2V0A2FwLzIw MTAwNjI0L3VzX2ltbWlncmF0aW9uX3Rha2Vfb3VyX2pvYnMEcG 9zAzYEc2VjA3luX21vc3RfcG9wdWxhcgRzbGsDaW1taWdyYW50 ZmFy

    California's agriculture industry launched a similar campaign in 1998, hoping to recruit welfare recipients and unemployed workers to work on farms, he said. Three people showed up.

    This is probably going to be the straw that breaks the bank: "Public Pension funds $3 trillion unfunded liability"

    http://www.npr.org/templates/story/story.php?storyId=124894618

    People can start to take charge and look for ways to make money. I agree with you that the situation is tough in Nevada. But people go out and try to make a dollar.

    1. Rent a room in your house
    2. Scavenging for scrap metal and aluminum cans, collect deposit cans, beach combing, pan for gold
    3. Sell stuff -- roadside stand, yard sale, ebay craiglist
    4. Odd jobs via word of mouth, craiglist, flyers
    5. Backyard garden
    6. Join the military
    7. Make money online
    8. Temp and part-time work
    9. Raise livestock - cattle, pigs,sheep and goats (for people living in rural areas)
    10. Start a micro business

  9. #9
    From your link:
    And don't count on a big paycheck. Farm workers are excluded from federal overtime provisions, and small farms don't even have to pay the minimum wage. Fifteen states don't require farm labor to be covered by workers compensation laws.
    That's slave rate, no overtime and no minimum wage?????

    Are you willing to work for $2 an hour when you have a family to feed?

    Come on Bogart, let's talk seriously
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  10. #10
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    I don't believe that it's possible for Americans to continue to making $1,000 a week and spending $1,500 a week. Over the last 30 years the economy has been based on asset apprecitaion and borrowing.

    The situation is going to get worse unless people adapt and reset to the "new norm" of working harder and spending less. Don't get me wrong. Nothing is wrong with spending money. But people need to live within their means. Many people are one check away from disaster.


    Quote Originally Posted by Natural Elements View Post
    From your link:

    That's slave rate, no overtime and no minimum wage?????

    Are you willing to work for $2 an hour when you have a family to feed?

    Come on Bogart, let's talk seriously

    Agricultural work isn't the solution for everyone. But for people that are fit to work, it's a great way to pick-up some extra money as a temp job for a few weeks to work the harvest. For instance, people from Philadephia could pick the blueberry harvest in Southern New Jersey a few weeks during the summer.

    In Florida, Workers picking tomatoes usually make between $7-$12 and hour.

    http://www.floridatomatogrowers.org/news/newsdetails.aspx?id=10

    A better example is Puerto Rico. They are paying $9 an hour and peeple just aren't willing to work. Even when they have no job. It has gotten so bad that the coffee growers need to sue prisoners to pick the harvest.

    Inmates are paid the same as regular coffee pickers - $5 per 28-pound bucket of ripe beans - and get 10 days taken off their sentences for each month of work. Few prisoners can pick more than 150 pounds of beans in a five-hour day, a fraction of what a skilled bean picker can pluck. Skilled pickers earn on average $50 a day - twice what most prisoners make - although really speedy ones make up to $100.

    http://www.nydailynews.com/latino/2009/04/07/2009-04-07_puerto_rican_unemployed_urged_to_pick_co-1.html

    Puerto Ricans targeted in massive ID theft schemes -- It has gotten so bad in Puerto Rico that all birth certificates have been voided. Why work when you can sell a few birth certificates to illegal aliens.

    http://news.yahoo.com/s/ap/20100627/ap_on_re_la_am_ca/cb_puerto_rico_selling_identities;_ylt=AhAdweNWQxg bTS1F.1M.nkRvaA8F;_ylu=X3oDMTM3dm9wZXNuBGFzc2V0A2F wLzIwMTAwNjI3L2NiX3B1ZXJ0b19yaWNvX3NlbGxpbmdfaWRlb nRpdGllcwRwb3MDMTMEc2VjA3luX2FydGljbGVfc3VtbWFyeV9 saXN0BHNsawNwdWVydG9yaWNhbnM-

    Quote Originally Posted by Natural Elements View Post
    What is the best solution? Paying this people or risking that some wil fall in criminality, bankruptcy, or no bill payments. It will cost money to the society one way or another unfortunately.
    In the short term we are buying peace. But how long can the government go on spending $2 for each $1 in receives in taxes. The situation is staring to get worse. In Nevada -- motor vehicle theft (94% above the national average), robbery (71% higher) and rape (45% higher) and Violent crime up in New York City: NYPD says murders jumped 11%, rapes rose 13%, 7% more people shot

    http://www.nydailynews.com/ny_local/2010/06/29/2010-06-29_violent_crime_up_in_new_york_city_nypd_says_mur ders_jumped_11_rapes_rose_13_7_mo.html

    The situation is getting worse as evidenced by the following:
    Hundreds of thousands haven't made a mortgage payment in more than a year.

    Meanwhile, the banks can successfully hide a big black hole called shadow inventory, while home-owners spend their mortgage money on the new iPad or flat screen TV. How does that affect GDP?

    Only 80.3 percent of men age 25-54 had jobs in December -- the lowest since the Bureau of Labor Statistics started collecting that data in 1948 -- at which point the figure was 94.4 percent. When the recession began in December 2007, less than 13 percent of men in this age bracket were out of work.

    Overall, the percentage of Americans over age 16 that holds a job continues to slide, reaching 58.2 percent. That's a 25-year-low.

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