Are we really in a depression? There is no widely agreed upon definition for a depression, but the National Bureau of Economic Research determines contractions and expansions in the business cycles...but doesn't actually declare "depressions".
It appears that we ARE in a depression, but the government and the so-called "economists" seem to ignore a few facts when defining our current situation...such as unemployment. (See chart below)
Who's really unemployed?
The U.S. Bureau of Labor and Statistics sometimes classifies people as "part-time", "marginally attached", and/or "discouraged" - - - but either way, they are REAL people who can't find a way to earn a living.
"Part-time" could mean 1 person who holds 2 part-time jobs just to survive. "Discouraged" really means a person who ran out of unemployment benefits and is dropped from the official government statistics - - - but is still out of work and is most likely struggling to survive - - - and is either homeless, living at someone else's expense, engaged in crime, is incarcerated, or has died and/or committed suicide.
See the BLS definition of "marginally attached" here: http://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=marginally-attached+workers
Somebody! Please, hire this girl...she's "discouraged"!
:::::::: AARP on 55+ Unemployed ::::::::::
Updated March 22, 2010 - AARP's Public Policy Institute reported that unemployment for Americans 55 and older surged 331 percent over the past decade!
The institute recently reported that the February 2010 unemployment rate for age 55+ workers remained higher than in any month since the late 1940s. In addition, 55+ unemployed workers spend a longer time that other groups looking for work.
55+ job seekers may register for specific job fairs at www.aarp.org/realrelief or call toll-free 1-888-321-5349
Jobless workers can receive up to 73 weeks of benefits, paid for by the federal government, on top of the 26 weeks customarily provided by the states.
As of January 7th, 2020 >>> 10.5 million people are collecting unemployment benefits (many on on Tier I, II, or III of Extended Claims). This does not include people out of work who don't qualify for unemployment benefits (those who didn't work long enough or just graduated from school and can't find available work) or have exhausted their benefits.
The total unemployed work force in America is 10.1% as reported by the U.S. Bureau of Labor and Statistics, but more likely it is closer to 18% to 20% - - - or almost 1 out of 5 people that are out of work.
Another Great Depression after 80 Years?
This is 1929
This is 2009
Many small businesses are still closing or struggling due to a lack of spending by the people who are still lucky enough to remain employed...and many more mortgage foreclosures are forecasted in 2010, so we're not near out of the woods yet. (And let's not forget the increasing government spending and debt...and more taxes too.)
Oh, and let me not forget...Happy New Year!
See all my well-researched posts on the current unemployment situation:
The New Poor - Millions of Unemployed Face Years Without Jobs
http://tobuds.com/blogs/blog1.php/2010/02/21/the-new-poor-millions-of-unemployed-face
Government Jobs (Bigger Government) Drive Employment Numbers
http://tobuds.com/blogs/blog1.php/2010/03/01/government-jobs-bigger-government-drive
Actual Unemployment in 2010 - Recession Worse than Reported
http://tobuds.com/blogs/blog1.php/2010/02/04/actual-unemployment-in-january-2010-rece
Deep Recession Shows No Sign of Letting Up - Maybe Getting Worse
http://tobuds.com/blogs/blog1.php/2010/02/24/deep-recession-shows-no-sign-of-letting
Largest U.S. Labor Union: AFL-CIO says Jobs Won't Return
http://tobuds.com/blogs/blog1.php/2010/01/07/largest-u-s-labor-union-afl-cio-says-job
More Bad News for the Unemployed in 2010 - and Beyond
http://tobuds.com/blogs/blog1.php/2010/02/23/more-bad-news-for-the-unemployed-in-2010
Almost 1 out of 5 People are Out of Work in the U.S.A.
http://tobuds.com/blogs/blog1.php/2009/12/31/unemployment-december-2009-new-release
FOX News Wages War on Unemployed - Thinks They're Lazy
http://tobuds.com/blogs/blog1.php/2010/03/02/real-reason-why-extended-unemployment-be
Tea Party, Fox News, and Conservatives Attack the Unemployed
http://tobuds.com/blogs/blog3.php/2010/03/04/tea-party-gets-in-wrong-on-unemployment
Extended Unemployment Benefits in 2010 - Fully Explained
http://tobuds.com/blogs/blog3.php/2010/02/16/extended-unemployment-benefits-in-2010
In Europe and U.S., Data Shows Murky Job Outlook
http://www.nytimes.com/2010/01/09/business/09globaljobs.html
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