Power of Story Send a Tweet        

Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 2 (2 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   4 comments
OpEdNews Op Eds

7.7% unemployment inaccurately depicts true jobless rate

By       Message Gregory Patin       (Page 2 of 2 pages) Become a premium member to see this article and all articles as one long page.     Permalink

Related Topic(s): ; ; ; , Add Tags  Add to My Group(s)

Must Read 4   Well Said 3   Supported 3  
View Ratings | Rate It

opednews.com

Author 77739
- Advertisement -

That calculation is consistent with a recent survey of income and program participation (SIPP) conducted by the U.S. Census Bureau that shows that well over 100 million Americans are enrolled in at least one welfare program run by the federal government. And that figure does not even include Social Security and Medicare.

The implications for the U.S. economy should be obvious. Government benefits for the unemployed merely provide enough for families to get by and cover basic living expenses. They leave no room for the type of discretionary spending that keeps businesses thriving in America. The amount of citizens out of work, not contributing revenue and receiving benefits, combined with billions in defense and war spending, bank bailouts, tax breaks for huge corporations that outsource jobs, etc., is simply unsustainable.

The only solution to the economic downturn in the U.S. is to bring back or create well-paying jobs in the U.S. Even though seasonal retail jobs that pay less than $10 per hour make good headlines in reports, they are not the solution.

Sources:

- Advertisement -

Bureau of Labor Statistics report (pdf)

BLS -- Seasonal Adjustment Files and Documentation

Economic Populist

- Advertisement -

Washington Post

BLS report -- Alternative Measures of Labor Underutilization (Table A-15)

BLS report -- Alternative Measures of Labor Underutilization for States

Washington Post -- Brad Plumer

Economic Policy Institute

Christian Science Monitor

- Advertisement -

NBC News

CNN Money

U.S. Census Bureau -- Survey of Income and Program Participation (SIPP)

Next Page  1  |  2

 

- Advertisement -

Must Read 4   Well Said 3   Supported 3  
View Ratings | Rate It

opednews.com

Gregory Patin is a free-lance writer residing in Madison, WI. He earned a BA in political science from the University of Wisconsin - Madison and a MS in IT management from Colorado Tech. He is politically independent and not affiliated with either (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The Ron Paul factor in the GOP's defeat

14 defining characteristics of fascism: The U.S. in 2012

The real unemployment rate in the U.S.

Psychotropic medications and school shootings: Preventing another Sandy Hook

9/11 official story doubts becoming more mainstream

U.S. casualties in Afghanistan September 2012: A closer look