If you look back to the Great Depression of the 1930’s, reported unemployment levels were 20.6% on the low end and 24.9% on the high end, according to different economists at the time.
As the so-called “recovery” continues, the facts just inconveniently get in the way, if you dare to look beyond the lamestream media. In a mere 6 years, since the recession began, wages have dropped substantially. “Jobs gained during the economic recovery from the Great Recession pay an average 23% less than the jobs lost during the recession,” according to a new report released by The U.
The world is facing a global jobs crisis that is hurting the chances of reigniting economic growth and there is no magic bullet to solve the problem, the World Bank warned on Tuesday. In a study released at a G20 Labour and Employment Ministerial Meeting in Australia, the Bank said an extra 600 million jobs needed to be created worldwide by 2030 just to cope with the expanding population. “There’s little doubt there is a global jobs crisis,” said the World Bank’s senior director for jobs, Nigel Twose.
The United States economy added only 142,000 jobs in August, compared with an average monthly gain of 212,000 over the prior 12 months, dropping 33%. It was the smallest gain since January. The small amount of jobs added occurred in professional and business services and in health care.
The Total Number of Americans Not in the Labor Force is over 92 million~ about 1/3 of the population. The latest official government statistics put the unemployment rate in the U.S.
