Today's Unemployment News: Examining Two Items

What does it all mean?

Keeping tabs.  Looking for hope.
Keeping tabs. Looking for hope. | Source

Do figures lie? What do they mean?


On May 4, 2012, some six months before voters vote November 6, 2012, three figures on unemployment painted a dismal picture.

If today's figure is accurate, and some think it is actually too low, 8.3% of workers are unemployed.

If today's figures are accurate, and nobody really knows exactly, 22,000,000 American workers lack a full-time job, are working only a part-time job, or have stopped looking altogether.

If today's figure is accurate, and they are often adjusted later, 115,000 new jobs were created in April 2012.

If my figure is accurate, 115,000 new jobs divided by 22.000,000 unemployed, under- employed and discouraged job seekers, means that April's new jobs only affected one half of one percent of those American workers the federal, state, and local governments should be helping.

It is time to ask: Is this the best we can do when we need to do much better?

An old saying: "Good, better, best, never rest until your good is better and your better is best."

The 2012 Election campaigning has to have a purpose, and the key purpose has to be getting American workers back to work and back to work at jobs offering the comparable wages and benefits that have been lost; something that pays the rent and puts food on the table; something that allows American workers to save for the future, not simply put off the bill collectors for another day. Where are those jobs being created?

Everything else depends on it.

_______

© 2012 Demas W. Jasper All rights reserved.

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Comments 20 comments

ib radmasters profile image

ib radmasters 4 years ago from Southern California

Perspycacious

I agree with your points on unemployment.

It is not simply a matter of a percentage, even if that percentage was accurate which I don't believe to be the case, it is about the quality of the jobs.

Do the new jobs have the same livelihood capability that the jobs lost had?

Losing a job that paid the rent, needs to be replaced by a job that can also pay the rent. Or simply, the job lost must be replaced by a like job, and not simply a job at Walmart, or Home Depot.

The unemployment statistics don't contain this kind of information. After more than three years since the economic collapse people are still losing their homes, and many can't afford to buy gasoline to go to the jobs, or job interviews.

I guess a more accurate indicator would be the revenue taken in by income tax, both state and federal. If these numbers haven't changed to a higher number then it would give us a better indication of how the country is doing compared to 2009.


handymanbill profile image

handymanbill 4 years ago from western pennsylvania

This hub is right on the money. it does not count such things as people who no longer get unemployment comp. or who have given up looking because they can't find work. It is very hard to even find a low paying job. They rate of unemployment has not gotten better it is just a hidden number.There are not less there is probably more. People have spent there 401 K's and savings accounts. Now Social Security that people are counting on may not be there when we do hit retirement age. I think these are the important issues that a good candidate should be addressing.


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

ib radmasters: You are asking the right questions. Let's see if we can get anyone to come up with the right answers. I'm in your corner, and everyone else should be, too.


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

handymanbill: "The Impoverishing of America" sounds like a natural for a title of a book to examine the real issues of 2012. The Election 2012 Campaign is a seeking after power, but the voters need to carefully examine the question of "power to do what?" The candidate running against Hatch in the Utah Republican Primary is claiming we "Need New Leadership" when the real problem is that America needs capable leadership and hasn't had it!


ib radmasters profile image

ib radmasters 4 years ago from Southern California

HandyManBill

The Social Security Trust Fund goes dry in 2033, the economy went bust in 2008 and is still on life support. Perhaps if Congress and the President focused on the large alligator at their feet which is the economy. After fixing the economy Congress might want to tackle the little alligator on the horizon.

Medicare goes dry in 2024.

Both of these really depends on the economy and jobs.


cleaner3 profile image

cleaner3 4 years ago from Pueblo, Colorado

that's the biggest problem. people want a job that pays the rent and feeds the family, wake up, those jobs are gone, now you either take two low paying jobs that replace the one you used to have, or you cry about what you lost. the overall situation has changed so much that this is the reality . I work two jobs now and barely make it , but i do make it. i will continue to struggle because I have to until we have a new president . this one doesn't care about the people, he only cares about himself. Don't be fooled by all the noise from the media. the people better wake up or the situation will get worse, and we will really be in trouble then.

just my opinion!


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

Mitt Romney may be David Letterman's mocking definition of "dull" (his word not mine), but the media as a whole doesn't seem to be enamored of someone who bases a campaign on "telling it like it is" when the media itself should be doing just that. An illiterate farmer was doubting the total bill at the local grocer's. The grocer told him: "Well you know, figures don't lie." To which the farmer replied: "Figures don't lie, but liars sure can figure!" 8.1%, 8.2%, 7.9% are dehumanized figures which do little to describe what all these wonderful Comments are telling us: you can play with the figures, but you shouldn't allow anyone to play with people's lives! You are witness to the impoverishing of America, do something about it so that it never happens again, and meanwhile put Americans to work on infrastructure with the remainder of the massive bailout monies. If you can't do those two things, pack up and go home.


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

In addition, (a) punish those employers who are paying "under the table" thereby cheating the system which should be generating badly needed Social Security and tax dollars, and (b) punish double dipper claimants such as those who live six months in one state and six months in another, and claim benefits from both states!


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

Now we discover that the weak financial controls, which have so far been put in place to prevent another bailout, are so weak that looking at this week's 2 billion dollar loss (with possibly another 1 billion likely) could mean J. P. Morgan Chase might need more of the taspayers' non-existent money to bail it out! :O[


handymanbill profile image

handymanbill 4 years ago from western pennsylvania

J. P. Morgan Chase can fail as far as I am concerned. Quit spending tax payers money that is not there to spend, to bail company's out.


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

handymanbill: According to the brief news releases, the losses have the same cause as brought on the previous bailout. A former member of the Federal Reserve Board had already warned that the latest "controls" were too weak to prevent this. Shame on the administration and Congress...again!


handymanbill profile image

handymanbill 4 years ago from western pennsylvania

Quit spending our tax dollars to bail out company's. If they fail so be it. You can't keep helping them out.


ib radmasters profile image

ib radmasters 4 years ago from Southern California

JP Morgan Chase needs to find its own settling point, and not be buoyed up by the taxpayers.

They need to be examples for the rest of the financial sector. It is like any other business that fails, that is why we have bankruptcy laws.

The previous bank bailouts by the US Treasury allowed the same executives of the banks that caused the failure, to not only keep their jobs, put to get million dollar bonuses for being incompetent or corrupt.


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

ib radmasters: Not much to add to that one, except why didn't the administration and Congress learn their lessons the last time? The "too big to fail" was allowed to remain; the tests are too weak; the supervision too scant; and the responsibility wrongly allowed to continue to rest on a struggling people. Make the testing strong enough with a penalty of an AT&T breakup, if they fail the tests.


ib radmasters profile image

ib radmasters 4 years ago from Southern California

Perspycacious

It seems that Chase was gambling in derivatives and lost the $2Billion.

This is a continuation of the financial industry going out too far from their base. Their base was conservative investing and a good fiduciary responsibility.

It was also the cause of the rise and fall of the stock market with the dot com bubble. The stock market lost its conservative brokers, and it was replaced by day traders, and online stock transactions without going through a professional broker.

Also the source of the current problem and the economic collapse in 2008. Banks bundling bad loans trying to hide their mistakes and pass them on to someone else.

All of these are examples of an industry going to far from the traditional base to make a Fast Buck.

It only works for those that create the game.

Thanks


handymanbill profile image

handymanbill 4 years ago from western pennsylvania

If they have go bankrupt then maybe it would be a good example for every one else. We can't keep bailing out companys.


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

handymanbill: J. P. Morgan once upon a time kept the federal government from going bankrupt, and did it all by himself. Now J. P. Morgan Chase appears to be trying to cause it to happen! Getting lost in all this is the ongoing European financial crisis which is fast coming to a head and seems likely to have an even greater impact on the US and world economies than a $2-$3 billion loss by just one US bank! Check out the Hub on the Euro, hunker down, and smile, if you can.


cleaner3 profile image

cleaner3 4 years ago from Pueblo, Colorado

j p morgan makes bilions in profits this is just a blip on their books. the left will just use this for more of a reason to give them more money. thats what this is really what that is all about. they make 2 billion in about one day.


JON EWALL profile image

JON EWALL 4 years ago from usa

hubbers

Where are the jobs?

5/09/12

Obamacare, Taxing jobs out of existence

WHY are companies not hiring?

http://www.humanevents.com/article.php?id=51364


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

JON EWALL: Greeks are voting again because nobody there can form a government to deal with their debt. France is fed up with austerity, too, and there are so many more shoes to drop in Europe (even wooden ones) that our own economy will shake, rattle, and roll before November.

Our national debt continues to grow largely unchecked, and employers who are not rabid optimists are reluctant to get bitten twice should the "rebound" be in the wrong direction, as seems likely if our own leadership can't get any act together which will deal with the real problems we all face going forward. Banks continue to be poorly regulated and the big ones remain "too big to fail". Individuals, as pointed out here in another Hubber's comment are still losing their homes, and many have exhausted what savings and retirement funds they had, while still being unable to find real jobs. The Administration tries to paint a rosey re-election picture any savvy person can see is a Potemkin Village. And the terrorists have new safehavens to operate from. So, who will play in the World Series this year?

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