US unemployment rate pic.twitter.com/NFGZ62i6GK
— cigolo (@cigolo) May 2, 2014
Unemploy rates by education: No high school degree (8.9%), HS degree (6.3%), 2 yr deg or some college (5.7%), college+ (3.3%)
— Zachary Goldfarb (@Goldfarb) May 2, 2014
Labor force participation collapsed back to 62.8%…where it was in the late '70s. pic.twitter.com/qRyTLO0kGb
— Matt Phillips (@MatthewPhillips) May 2, 2014
@MatthewPhillips Get ready for further collapse: pic.twitter.com/AF3LMEuU9b
— kevin kane (@kevinjosephkane) May 2, 2014
Almost there! After April, we're just 120K jobs away from recovering all the jobs lost in the Great Recession! pic.twitter.com/yzkGcm2rH3
— Matt Phillips (@MatthewPhillips) [...]
"But the Shooter will discover soon enough that when he leaves after sixteen years in the Navy, his body filled with scar tissue, arthritis, tendonitis, eye damage, and blown disks, here is what he gets from his employer and a grateful nation: Nothing. No pension, no health care, and no protection for himself or his family." —Things have not worked out so well for the Seal Team 6 assassin who took out Osama bin Laden, America's most wanted global terror mastermind Bond villain. Update: Someone should have told him about the VA hospital though.
This morning's new job numbers: what do they mean?
• The "u6"—that is, you nerds know, unemployed people plus "marginally attached" employed people plus people unwillingly employed part-time (as opposed to full-time)— is only 16.2%! Just like it was in August. Just like it was in June. Still, a year ago, it was 17%.
• There is a very, very slight trending uptick in men and young people getting jobs.
• Above: the seasonally adjusted unemployment rate for the last ten years, for all people 16 and older.
What are we to do about the disgusting plan to keep America's unemployment high? Since we're not marching on Washington, the right and the left aren't unifying on this issue on which we both agree and basically no one in the business world cares in the slightest, all we can do is create a few jobs ourselves and also keep putting out there what's really happening, which Yahoo!'s The Lookout is doing admirably. They've created a Tumblr where people tell their stories—lots of people. They got thousands of letters when they asked people to tell them what's really going on. You could just start here at the [...]
Hey, remember the recovery from the recession? When businesses were going to make money and then the jobs would come back? Paul Krugman looks at the non-recovery of employment today. Above is the graph since 1948. There were 422,000 new claims for unemployment benefits last week.
Like pregnancy, divorce and anal sex, unemployment is one of those things you can’t possibly understand until it happens to you. Whether you left your job voluntarily or not, you never know what to expect until you’re knee-deep in “I have absolutely nothing to do.” Every day feels like the last day of a too-long vacation—you’re eager to get back to something, anything.
Likewise, the people in your life may not know how to deal with your predicament. There’s a good reason for this: unemployed people don’t like to talk about being unemployed. It's hard enough to find someone to talk to between the wasteland hours of 8 [...]
"The White House made the case on Thursday that cutting off unemployment benefits would actually result in hundreds of thousands of more unemployed Americans." Ooh, hundreds of thousands? That's all you've got to scare Republicans into extending unemployment? Nice try! I mean, only 40 million people benefitted from unemployment since December 2007. (That's 14 million recipients, plus their households.) Besides, last week 436,000 applied for unemployment. Which is actually not far off from the two-year low! So what's a few hundred thousand more unemployed people?