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Official Unemployment Is at 3.9%? Economist Robert Pollin Says It Is More Like 12%


Business  (tags: job numbers, economics, labor market, low wages )

Sheryl
- 154 days ago - therealnews.com
The official rate, this 3.9 percent first of all does not take account of people that are working part time and want to work full time. Also people that have dropped out of the labor force temporarily because they do not see good prospects for themselves



   

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Comments

Animae C (507)
Tuesday May 15, 2018, 6:24 am
Similar tactics here!

Shared
TY Sheryl
 

Sheryl G (360)
Tuesday May 15, 2018, 6:45 am
Appears the 1% use the same playbooks.....
 

Derek R (282)
Tuesday May 15, 2018, 7:29 am
Thank you. Fiddled figures.
 

JL A (281)
Tuesday May 15, 2018, 8:08 am
and all those who are caring for children or other family members because they couldn't find a job that paid more than the costs of child care, elder care or disability care.
 

Sheryl G (360)
Tuesday May 15, 2018, 3:21 pm
Also JL A, there were many who were let go from their jobs before they were ready for retirement. Due to age they have a hard time finding new employment so many of them have had to tap into early retirement. This has left them getting a smaller monthly income check but with no other way around it, they had to take some income rather than having nothing at all. These people are also not counted.
 

Colleen L (3)
Tuesday May 15, 2018, 8:41 pm
It's really said. These numbers re depressing.. tRump has done nothing for our economy just making it worse for everyone. The cost of living is sky rocking: rent/mortgages.utilities, gas, groceries, clothing, childcare, all types of , insurances. It's insane. Thanks Sheryl
 

Evelyn B (61)
Thursday May 17, 2018, 3:01 am
Statistics are a tool: they can't "lie" unless one fakes the raw figures ... but the way one analyses the raw figures can change the picture that they project and support.

Employment figures are very vulnerable to such variation - the official categories & sub-categories obscure or emphasise different perspectives. Most figures only cover those classified as "economically active population" ... and those are persons currently in employment, or actively seeking employment in recent weeks, with such activity representing the bulk of their working day time ... Not visible are those who do not give 'employment' as their main activity (e.g. 'home-keepers/ housewives' who spend most of their time on unpaid home activities including caring for children/ sick/ elderly/ people with disabilities; students).

Include unpaid labour ... yes, home care is part of that ... and unemployment estimates drop (especially for women!!)

Exclude those working part time but wanting full time work; exclude those who have despaired of finding work ... and unemployment rates drop.

Collect data BEFORE the end of the school year, and the students entering the job market after finishing school won't raise the unemployment figures ...

The statistics aren't lying - but the people using the statistics as a tool are misleading those who trust statistics! (Which takes one back to the ideas in the article you posted about beliefs, Dandelion!)
 

Evelyn B (61)
Thursday May 17, 2018, 3:13 am
As for wages -
Large companies, those generating profits, could afford to pay better wages, but that's not the objective in life of their share-holders, owners, board members (& hence, top management).

This article is pointing at this category of employer ...

But there is another category: small businesses. They are hit by the global economic crisis, their profits tend to be small, barely enough to cover costs & salaries. Often, they can't even afford to invest in growing the business - even when there are opportunities, which would also then allow increasing employment & some increase in wages. Investment in enabling small businesses to grow could help employment & wages - but that is limited, so more and more small businesses in the West are collapsing and vanishing. (I see this in the numbers of small businesses that have closed ... empty shop fronts, premises for rent/sale ... You must see it in your communities, too.)
 

Roberto MARINI (88)
Thursday May 17, 2018, 8:25 am
noted thanks
 

Sheryl G (360)
Saturday May 19, 2018, 7:21 am
Indeed Evelyn, lots of small businesses can't survive and have gone under, or do not last long.

The Big Box stores like Walmart come in and lower prices below their competition in a town, people making low wages will look for the bargains.

The fabric store that use to exist, the local grocery store, the toy store, can't exist if places like Walmart cut prices so low, even taking a loss in that area, because they have enough money to do so, and with tax codes are allowed write offs and such.

Little by little the fabric store is gone and the toy store closes its doors. Once the competition is gone Walmart begins to raise the prices back up and now there is only the Big Box store to shop in. Same with other types of stores, the small hardwares stores were taken over by the Big Box Stores.

Now the owner of the small business is working for peanuts as a greeter at Walmart and the local handymen can't work due to laws changed by the Big Box stores. The Big Box Hardware stores, that also sell household items, now install the windows, the washer and dryers, lay the carpet so on so forth. But the people work for the Corporation because they can't work for themselves anymore - laws passed - pushed by the Corporate to make sure you either shopped or worked for the Corporate. They get you coming and going.

The reason why my town is doing fairly well is because it has 2 out of the 3 "must haves" that allows a community to exist. We have a prestiges private University in town and we have a hospital and medical facilities. The 3rd is a prison, and although we don't have that, there is a small correctional facility just over the border of our town.

However, pay is still low in this area, we lose medical staff to the higher paid areas up north, our teachers are the 5th lowest paid out of 50 States, most jobs keep the tourist economy going so are service sector is known for low pay.
 

Darren W (218)
Thursday May 31, 2018, 10:54 pm
There are lies, damn lies, and official statistics. . .

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