RT: The real jobs numbers: 41% of America unemployed, 1 in 3 doesn’t want work at all
Posted on October 19, 2012
Published: 19 October, 2012, 00:43
Edited: 19 October, 2012, 08:53
33% percent of Americans don’t have a job and don’t want one
Even if the US Labor Department has determined that the unemployment
level has finally plateaued after months of staggering jobs statistics,
the truth behind the numbers isn’t all that nice. Only four out of every
10 adults in the US is employed.
While the percentage of Americans filing jobless benefit claims isn’t
what it was during an unemployment epidemic that ravaged the country
throughout the majority of US President Barack Obama’s administration,
the Labor Department’s numbers are largely inflated on account of how
they determine what actually constitutes looking for work.
Officially, the unemployment rate in America for the month of
September was only 7.8 pe rcent, but that statistic stems from only the
number of citizens who have been actively searching for a paycheck. In
reality, only around 5 per cent of the adult population in the US is
unemployed in the eyes of the government because they have been handing
in applications during the four weeks before the Labor Department
conducted their research. Additionally, another 3 per cent are
interested in work but haven’t actively engaged in a job hunting during
that span, roughly creating an unemployment figure of just under 8 per
The real figures, however, reveal a much scarier statistic.
“The employment-to-population ratio is the best measure of labor
market conditions and it currently shows that there has been almost no
improvement whatsoever over the past three years,” Paul Ashworth,
chief North American economist for Capital Economics, writes in a note
to clients obtained by CNN. That figure, which accounts for the
proportion of working Americans compared with the number of adults in
the country, is a lot higher than 8 per cent.
For now, 58.7 per cent of American adults are working if the actual
employment-population ratio is taken into consideration, leaving about
82 million, or almost 41 per cent of people unemployed. Only 8 percent,
however, are even interested in work, leaving 33 per cent of Americans
not only jobless — but in no desire for work.
“The ratio expresses more clearly how many people find working to be a ‘good or attractive deal,’” Tyler Cowen, economist and director of the Mercatus Center at George Mason University, adds to CNN.
If the numbers seem drastic, it’s because they are. So rampant in
fact is the country’s seeming disregard for work that other just
released statistics show that funding welfare programs for the American
population was the most expensive endeavor undertaken in all of Fiscal
Republicans on the Senate Budget Committee released findings this
week showing that the government spent roughly $1.03 trillion on welfare
programs last year, funding 83 separate efforts to provide assistance
to Americans. Days earlier, a separate study out of Capitol Hill
revealed that the number of people enrolled to receive federal
assistance by way of food stamps has hit a new record high with roughly
47 million US residents.
“These astounding figures demonstrate that the United States
spends more on federal welfare than any other program in the federal
budget,” Alabama Sen. Jeff Session writes in a letter provided to The Daily Caller this week. “It
is time to restore — not retreat from — the moral principles of the
1996 welfare reform. Such reforms, combined with measures to promote
growth, will help both the recipient and the Treasury.”
“No longer should we measure compassion by how much money the
government spends, but by how many people we help to rise out of
poverty,” Sessions adds. “Welfare assistance should be seen as
temporary whenever possible, and the goal must be to help more of our
fellow citizens attain gainful employment and financial independence.
This is about more than rescuing our finances. It’s about creating a
more optimistic future for millions of struggling Americans.”
- The other unemployment rate (money.cnn.com)
- About That Jobs Report…Updated: Jobless claims dropped because BLS omitted California (hotair.com)
- Boom: Unemployment Rate Falls to 7.8%, Big Upward Revision to Last Month (businessinsider.com)
- Weekly Jobless Claims Drop Proves to Be Short-Lived (bonniesbumps.wordpress.com)
- US Jobless Claims Rise 46000 on Seasonal Shift – Bloomberg (bloomberg.com)