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Forum Post: And the Bureau of Labor Statistics U-6 for June 2012 is (drum roll).......

Posted 8 years ago on July 7, 2012, 5:48 a.m. EST by Underdog (2971) from Clermont, FL
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a whopping 15.1% !!!

HFS!!! The REAL deal. Not the PC U-3 of 8.9%. That's about 1.5 out of 10 people on the skids, scuffling along, low morale, low self-esteem. The next time you're walking around, look at your fellow humans and realize that of those of working age (not counting stay-at-home-to-raise-kids, etc,) a HUGE percentage have no job.

Why doesn't the media report U-6 instead of U-3 (official)? Because the REAL deal means we are REALLY screwed. How on earth are you going to get that many people back to work?

Well...ugh...er...maybe when pigs fly? Let's take them up in planes and shove them out and tell them if they flap their arms real hard they might have a chance.

We are witnessing the decline and fall of the American empire. Yes, it's happening right before your eyes. How's it feel to be a part of history in the making?

PS -- I am one of the 1.5 (brother can you spare a dime...er, quarter [adjusted for inflation--this isn't 1929]???)



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[-] 3 points by beautifulworld (23372) 8 years ago

This is the important unemployment statistic to focus on. Thanks, underdog. MSM fails us completely.

[-] 2 points by MattLHolck (16833) from San Diego, CA 8 years ago

shut up\

you're lucky to have a job

[-] 2 points by TitusMoans (2451) from Boulder City, NV 8 years ago

Here are some interesting numbers from http://usdebtclock.org/ .

The American workforce consists of 143,526,626 workers; the actual number of unemployed people is 23,118,217 (the figures change in real time). Calculate that out 23,118,217/143,526,626=16.1%. Some people and organizations place the number of unemployed as high as 30 million, which raises the percentage to 20.9%.

The figures are worse than they seem at first glance, because they do not reflect the number of underemployed people, or those who have taken drastic reductions in pay since the beginning of the economic collapse. Everything is not rosy; to pretend otherwise is self-deception of the worst kind. Might as well kneel before a symbol of the dollar bill and roll beads through one's fingers.

[-] 2 points by DKAtoday (33802) from Coon Rapids, MN 8 years ago

I think you mean spare a fiver as you used to be able to buy stuff with a dime and then again with a quarter but to keep pace with current times you would need at least a fiver to receive as much good.

The U6 report in my opinion is still low - as how can you have 150,000,000 people at just above/ at /below the poverty line and still have such a low representative percentage reported? 150,000,000 = roughly 50% of the population.

[-] 2 points by Underdog (2971) from Clermont, FL 8 years ago

Well DK, I must admit I didn't really look too hard at what a dime would buy in the GD, but I can still remember when I was a kid growning up in the 1960s in a small town that a 1st-class stamp cost 5 cents, and a coke (in a bottle) was 25 cents out of a coke machine.

I think your stats might be a little off. Out of a population of 300M, about half, or 150M are working age. According to the IRS, 50% of taxpayers (doesn't count unemployed) make less than $32k per year (many, perhaps most, make significantly less than that). With a U-6 in June at 15% of working age Americans U-6 unemployed, that's about 22.5M. So 150M minus 22.5M = 127.5M working. 50% of those (about 63.75M) earn less than $32k per year.

[-] 0 points by hchc (3297) from Tampa, FL 8 years ago

Good point on the dime thing...

[-] 2 points by DemandTheGoodLifeDotCom (3360) from New York, NY 8 years ago

The Great Depression was about twice as worse as it is today. And capitalism survived. So the odds are certainly in capitalism's favor.

There are people who say the economy will collapse. That is utter nonsense and waiting around for the collapse is hurting the cause for change.

If you want an economy where there is no unemployment, workers must organize and demand specific changes that will put an end to it. Otherwise, the economy will continue on just fine without you and the rest of the unemployed.

[-] 2 points by Underdog (2971) from Clermont, FL 8 years ago

"continue on just fine..."

And I suppose you think this economy is "just fine". You are obviously insulated from reality 1%er.

[-] 1 points by DemandTheGoodLifeDotCom (3360) from New York, NY 8 years ago

You misunderstood my comment. I'm not fine with it but the economy is.

The point I was making was that the economy doesn't care about you or anyone else. It will continue on forever with 15% underemployment if it had to. It will never collapse because government will constantly bail it out.

So if you want to change the economy, you have to organize and demand specific changes that will fix the economy. The economy is not going to fix itself because it is worried about the people who are unemployed.