Unemployment rises over 10% in the US

[IcarusAngel]

http://www.msnbc.msn.com/id/33713864/ns/business-personal_finance/

capitalism is a sin. I made a post a while ago predicting that unemployment would hit 10% and here it is.

Keep in mind, here in America we don't have the benefits the Western European countries have. If I got sick right now, with no health insurance, I'd be done and I'd be in debt the rest of my life. I'm getting by *now* but that could change in an instance. Millions of people have this hanging over their heads and millions already have had their lives destroyed because of a lack of a safety net due to Libertarian rhetoric (give everything to the rich).

There is a huge difference between a high unemployment rate in the US, which is mirrors third world countries with its wealth inequality, and having a high unemployment rate in like Sweden. Many of those 'unemployed' people are probably programmers and so on who do useful things in their free time, whereas Americans are struggling to get by. America shows the failure of capitalist economics in practice.

http://www.youtube.com/watch?v=lxVxr2yaMsc

[Dejavu]

I think UE is higher in the U.S. actually. I don't think the Dept.of Labor does proper accounting of it.

[IcarusAngel]

Well we don't count many of those who gave up looking for jobs or who are 'underemployed' and so on:


Measuring unemployment is an art that can result in widely varied rates. Not surprisingly, the U.S. Government uses a method that excludes millions of Americans seeking employment. This lower rate is used to prove that America's economic system is superior to those in Europe. Their higher unemployment rates are blamed on unions and socialism, which guarantee workers health care and paid vacations. The implication is that while many American workers lack such benefits, at least they have jobs. This argument is faulty since unemployment is measured differently.

http://www.truthout.org/041009LA

The unemployment rate may thus indeed be far higher than it is. However, even using the very conservative measurments of the government we are in double digits, which equals millions of people.

[Dejavu]

Well we don't count many of those who gave up looking for jobs or who are 'underemployed' and so on:



http://www.truthout.org/041009LA

The unemployment rate may thus indeed be far higher than it is. However, even using the very conservative measurments of the government we are in double digits, which equals millions of people.

Also those with part time jobs to eek by that are still looking for work because they are worth more than they make. Private Contractors and seasonal work is not counted either.

If I were to make an estimate , I'd say 16% or so. Actually I think there is even government data to back this up. I'll look for it.

[Jazzratt]

It's the minimum wage don'tcha know? :drool:

[GatesofLenin]

Canada lost over 43000 part-time jobs this last month, finally Bank Of Canada Mike Carney tells the truth. Capitalism sucks! :cursing: