Thursday, 28 October 2010

The New American Depression

When the news pundits tell us that unemployment in America is at around 9.5%, what they don't tell us is, were the figures calculated in the same way as they are in Europe, the current figure would be closer to twice that number, especially in certain areas, such as California .

The official figures are based on those who are in receipt of unemployment benefit, however, unemployment benefits are only available for a set period of between 26 weeks up to one year, after that, they are classified as "Discouraged" and therefore no longer counted as seeking employment, whether they are or not.

Last year, because of the current financial situation Congress took the unprecedented step of extending unemployment to 99 weeks, at a cost of over $100 billion. However, time has now passed and many people are reaching the end of the 99 weeks with no prospect of a job and facing the abyss.


Curt said...

Yes, the network news agencies are simply the unofficial propaganda arms of the government here. We "believe only half of what we see and none of what we hear" coming from them. If they say it's at 10%, then most likely unemployment is really edging 25%. And that is how it looks when you try to find a job now in America (at least if you are a native White).
Our children now have to compete with foreigners "of color" from everywhere. They are even "imported" from India now on H1-B visas to work as nurses here in our hospitals due to an alleged "shortage" of Americans who are "willing or qualified" to work as nurses,etc. The same tactic and argument is used in the IT industry (Micro$oft) to fill those spots even though we have had plenty of qualified people to work those industries. It is all lies, drivel and "meadow muffins".

David said...

You should visit This is John Williams and his Shadow Government Statistics. First Class! Put your cursor over the three colours of the unemployment graph and it will expand to explain what you are viewing. Also read his biography of experience and training. It will explain a lot. He is using the older methodology of how these time series were constructed. Current USG data is basically useless until one reconstructs it. Based on his corrected figures, the current unemployment rate in the USA is slightly above 23%.

Anonymous said...

Sarah, there are still jobs here in America. I know lots of people with 2 or even 3 jobs (and in my city, unemployment is officially more than 10%). I know guys who have started their own businesses. Race is also not a factor. But there are a lot of lazy people here who want everything handed to them on a plate and don't want to work. That's why illegal Mexicans still have jobs in this recession. Sure, a lot of the big-money-for-nothing jobs have gone, but the little ones are still there and thankfully most Americans are willing to work. There is just a large minority of lazy whiners.


Curt said...

Ha! David's link to bears out what I knew instinctively, the ACTUAL unemployment figure here is close to 25% just as I suspected! Thanks David, that is a good site to check up on.

Anonymous said...

Sarah, The US is in an economic catastrophe. The chickens are finally coming home to roost after years of outsourcing, govt. overspending, open borderism gone crazy through illegals crossing the border and H1-B, L1-B visas for serfs, crazy military ventures and a vastly inflated military budget. I believe the problems are so profound that there is no chance of a democratically elected govt. actually being able to solve them, the actions that need to be taken are so severe that no govt. could act effectively and survive. Absent a saviour figure like General Pinochet, the future of the US will be what Argentina has gone through; inflation, ruin, general poverty while a few use the system to get obscenely rich.
The US is done.