The U.S. unemployment rate is about 6.1% we are told. So our Economy is OK?
If only 6.1% was a true statement on our employment.
What needs to be added to the 6.1%, U3, is 12%, U6, which is the measure of U.S. unemployed and no longer looking for employment. www.bls.gov/news.release/empsit.t15.htmBLS See U3 and U6
The U6 rate has been unreported by the mainstream media since 1999.
See note one: Real unemployment - Roberts
U.S. Economy: Lies and Deceptions by Paul J. Landis
Having such high actual unemployment rates is having consequences as to the number of Americans experiencing conditions of poverty. The US poverty rate is 17% or 25 million Americans. See note two: Poverty in the U.S.A.
Knowing that high levels of unemployment are contributors to high Poverty levels, why are our real unemployment rates so high?
If we look at Outsourcing statistics, we see that over 24 Million U.S. jobs have been outsourced. That is 10 plus million reported by the AFL/CIO on their website and the remainder from Information Technology (IT) and call center and service jobs.
See note three: Outsourcing
Further adding to US economy woes are the tragedy of over 57,000 U.S. factories sold and having left the U.S. for other countries, primarily Communist China.
"Only about 9% of US workers are doing Manufacturing work. We need to return to those not that distant times when 25% of Americans were working in Manufacturing.
The importance of this is being felt every day across America. Especially in communities that have seen the factories leave and manufacturing jobs disappear with them
One manufacturing job in a community supports half-dozen others jobs: shoe makers, food stores, etc." See note four.
Knowing the how's and whys our government has allowed this situation of outsourcing and factory lose to develop is vital to understanding what needs to be done to fix it.
In 2001, China Joined the World Trade Organization and immediately began flooding American Markets with illegally subsidized imports.